THE OPEN May beans: 6 1/2 higher May meal: 1.50 higher May soyoil: 45 higher May corn: 2 1/4 higher May wheat: 1 lower The markets opened lower and found some profit-taking for grains, while bean prices traded higher. The corn/bean ratio has been skewed in favor of corn, which today saw a needed correction. Products were higher with the soy complex bouncing expecting a good NOPA March crush number today. SOY
The soy complex values remained firm with prices congesting further. May and Nov bean prices found some technical buying interest over $14.00 and $12.65, respectively, though May generally gained on Nov now that the Goldman roll has ended. Poor bean sales...
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...
