Corn and cattle opened down but settled up; soyoil opened up but closed down with the rest of the complex; and wheat never saw the light of day. The rationale for the doldrums at the open was news of a March increase in the Federal Funds rate. That would reduce liquidity and inflation, starving capital from commodities. However, petroleum is the biggest commodity and it closed higher, equities closed lower but in low percentage terms, leaving wheat to get clobbered. An interest rate hike is not a surprise and technicals remain at play.
Despite the down day in soybeans, the March contract remains nearly 50 cents higher over the past five days of trading. Corn also remains higher, but wheat has been demonstrably the victim of bears. ...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
