Good morning! An hour after the opening bell in Chicago, January soybeans are up 20 cents and above moving average-resistance after Presidents Trump and Xi reportedly had talks on trade and North Korea. President Trump tweeted that he and President Xi had a “very good conversation” that included several subjects with “a heavy emphasis on trade”. The market opened higher after this week’s Export Sales report featured larger-than-expected soybean shipments, even though sales and YTD exports remain in bearish territory. Traders pushed January soybeans to nearly 20-cent gains before selling at the 100-day moving average pushed the market lower.
WPI has mentioned several times that China holds the we...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
