Soybeans had quite a trading range today, triggered by more bullish USDA stocks and acreage numbers than expected, and there was no stopping wheat in any of the three markets. General Comments There were quite a few things happening in today’s markets:
It was the last day of the month. USDA released its acreage update and quarterly stocks report. It was the last trading day before the weekend and the 4th of July holiday week in the U.S. Markets will be open from 8 PM (EDT) Sunday night until 1 PM (EDT)Monday. They will then be closed until 9:30 AM (EDT) Wednesday morning. That can be an eternity if the weather forecast stays hot and dry. Today’s weather forecasts looked hotter and drier for the entire western half of the U.S., and t...
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...
