THE OPEN July beans: 2 lower July meal: 3.00 lower July soyoil: 33 higher July corn: 3 lower July wheat: 3 lower The markets were wobbly overnight but quickly found their footings to climb to new contract highs once again. Oilshare was much higher as May contracts finally traded to 60c. Stronger bean prices accelerated the upside in beans, with corn prices higher as well. SOY
The key feature in the soy complex was that of a sharp rally in soyoil futures. Meal prices tried to follow, but buy soyoi/sell meal trade was the fan-favorite of the day. China continues to hunt for alternative feeds which leaves meal in a more vulnerable situation, while tight vegoil supplies...
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...
