The funds started this week with a record-large short position in wheat, a big short in corn and moderate-to-small short positions in soybeans and soymeal. It was all about weather and funds today, and volume was relatively heavy. General Comments It’s been a very long time since a wheat contract traded up the limit, or any other agricultural contract for that matter. KC July wheat flirted with limit up most of the session. Below are the latest trading limits, which are now variable:
Chicago wheat - 30 cents KC wheat - 30 cents Mpls wheat - 60 cents Corn - 25 cents Soybeans - 70 cents Soymeal - $25/ST Soyoil - 2.5 cents/lb.
Cold temperatures followed by heavy snow across approximately 40 percent of Kansas and eastern Colorado...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
