THE OPEN May beans: 2 lower May meal: 1.20 lower May soyoil: 5 lower May corn: 6 3/4 higher May wheat: 7 3/4 higher The markets opened as called with a sharp rally in corn leading the way higher for other markets to do much the same. Wheat futures ran more shorts out of the market as prices rose responding to ongoing concerns over dryness in the US northern plains, and the fact that HRW could be an alternative to high priced corn for cattle feeders. Bean trade was higher tagging along with corn prices, but the cancellation of beans for old crop by China seemed to weigh on the market. SOY
The major feature in the soy complex was that of higher oilshare, as traders once again bot soyoi...
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...
