THE OPEN July beans: 21 higher July meal: 4.90 higher July soyoil: 180 pts higher July corn: 6 higher July wheat: 7 3/4 higher Prices opened and quickly escalated to the upside. Beans and soyoil quickly post new contract highs. Funds were buying out of the gate on solid technical closes, firm cash, extreme cold temperatures, and technical strength. New contract highs were quickly placed in beans, corn, and soyoil, and it felt like there was some panic buying as prices reached new levels of resistance. SOY
The soy complex traded higher on the day with prices jumping quickly to new contract highs. July beans traded up to new contract highs at $14.71 1/2, with November trading over the...
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...
