THE OPEN July beans: 9 lower Jul meal: .20 lower Jly soyoil: 93 lower July corn: 12 lower July wheat: 16 lower The markets started the day lower but quickly found end-users, short-covering, and bargain hunters looking to own this pullback. Spreads were extremely firm with new highs. Oilshare found early stability and upside follow-through after the open. Longs were there to defend values at their open. The move higher from lower is typical of solid bull markets, which often features good comeback rallies after a significant correction. SOY
The main feature in the soy complex was that of higher oilshare, even though meal prices rebounded from the open as soyoil prices adjusted.&...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
