Soybean and corn futures traded slightly higher again overnight, while winter wheat contracts stayed close to unchanged. Trading volume was barely average. However, prices across the board turned red early in the day session and stayed that way through the close. Soybean prices ended down more than 5 cents, soymeal was down around a dollar and soyoil fell 24-33 points. Corn was down about a penny, but wheat posted sharper losses following Stats Canada’s bearish final 2017 production report. Chicago wheat dropped 7.5 cents, KC wheat was down 8 cents, and MGEX spring wheat lost 12.5 cents. Markets reacted to the bearish Stats Canada numbers as well as weather model hints of rain over central Argentina about 10 days from now.
The bear...
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...
