THE OPEN May beans: 4 1/2 higher May meal: 1.00 higher May soyoil: 4 higher May corn: 2 3/4 higher May wheat: 1/4 lower Prices opened as called but a shake-out in oilshare pressured bean prices. Corn gained on beans and wheat found a short-covering bounce into tomorrow's numbers. The Goldman Roll will begin tomorrow, as May contracts are rolled forward. SOY
The major feature in the soy complex was that of breaking spreads and sharply lower soyoil which pressured beans. May beans sold off to major support at $14.00 and November beans found support at $12.60. Both markets recovered off their lows as corn prices rallied. Weaker crude oil price...
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...
