GOOD MORNING, Happy Veteran's Day, and thank you for your service. The November report, typically a quiet data set, offered up a few surprises that not only validated fund long positions but sent prices higher for everything but wheat. Given tighter balance sheets, SA weather and demand are critical to price. Funds were big buyers yesterday of around 30K corn contracts and 30K beans. Beans:
No increase in the export forecast Ending stocks lowered to 190 million bushels A very tight stocks-to-use ratio of 4.2%, which supports prices Argentine production down 2.5 mmt
Corn:
Disappearance raised by 250 million bushels Exports raised 325 mln bu to 2.650 bln bu Chinese corn imports raised...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
