THE OPEN May beans: 11 3/4 lower May meal: 1.00 lower May soyoil: 82 lower May corn: 5 lower May wheat: 8 3/4 low The markets opened as expected with meal prices turning higher on the day as traders booked profits on oilshare. Soyoil charts traded downward as multiple support levels were violated, which helped alleviate overbot signals. Macros were weaker with crude oil getting hit, which seemed to drag on most of the commodity markets today, resulting in an across-the-board commodity fund selling event. As is typical, where crude goes other markets will follow. Outside macro events included continued unwinding of previous buy energy/sell US currency trade. SOY
The...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
