THE OPEN November beans: 2 higher December meal: 3.70 higher December soyoil: 70 lower December corn: 5 higher December wheat: 5 1/2 higher The markets opened as called but continued the same overnight action with soyoil futures breaking more which took beans lower as well. Political pressures continue to weigh on soyoil, as the Biden administration delayed the annual rulemaking process to decide on US biofuel blending mandates. Uncertainty never leads to a verification of trend, which at this point for soyoil had been higher. IN grains, wheat gained on corn, though Brazil's domestic corn prices are continuing to climb higher. SOY
The major feature in the soy complex was...
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...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
