THE OPEN May beans: 6 1/2 higher May soyoil: 81 higher May meal; .40 lower May corn: 3 3/4 higher May wheat: 6 1/2 higher The markets opened as called with more technical buying sending corn prices to new contract highs for the December contract, while oilshare jumped on traders buying soyoil/sell meal. Beans followed the path of higher soyoil values amidst technical chart-based buying activity. China's statement that commodity prices are too high, thus asking lenders to curtail activity, created a profit-taking run yesterday, perfect for turn-around Tuesday today. The Goldman Roll continues through tomorrow, with open interest increasing in July contracts vs. May. SOY
The soy comple...
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...
