Overnight trade found corn and wheat futures in a mild retreat from yesterday’s big gains, while soybeans were quietly higher. Trading volume was rather light. China and much of Europe will celebrate their May Day holiday tomorrow through Monday. Word that Treasury Secretary Mnuchin and U.S. Trade Representative Lighthizer are expected to meet with Chinese officials in Beijing as quickly as next Tuesday generated enough hope of progress on the trade disputes to keep a bid under soybeans. However, that hope faded away during the day session as exporters reported that Chinese inspectors have begun to survey arriving cargoes of U.S. soybeans especially closely in recent days. It is reported that one soybean cargo is being held up from d...
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...
From WPI Consulting
Illuminating the value of technical research
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