THE OPEN Nov beans: 4 higher Dec meal: 1.20 higher Dec soyoil: 3 higher Dec corn: 3/4 lower Dec wheat: 7 1/2 higher The markets opened as called with funds selling corn pushing values into sell-stops on a disappointing export sales report and the lack of a meaningful frost. Price action stumbled lower in corn after it became the sell side of spread activity. Minneapolis wheat finally corrected lower after posting new highs for the move upward. Products were adjusting as we move into first notice day for October contracts. In terms of announcements, International Grains Council (IGC) lowered world bean production by 2 mmt to 342 mmt. SOY
The soy...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...