Overnight trade was light as the markets were largely waiting for this morning’s export sales report data. Before it was issued, corn, wheat, and soybean futures were slightly higher. The report, however, was bearish old crop corn and soybeans, which meant the overnight session ended with corn up only a quarter-cent and soybeans down 8 cents. Wheat futures were slightly higher as the export report was better than expected.
The biggest news of the day was USDA’s announcement of a new farm payment package to compensate farmers for trade war-related losses. The markets did not believe USDA’s promise that the payments would not distort acreage and promptly sold off. Nearly all CBOT products finished in the red, while CME li...
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...
