What You Need to Know Today:
The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the spring crops. China’s COFCO bought “at least five” cargoes of U.S. soybeans on Monday for September-November shipment. This is below some speculation that the total volume could have been ten cargoes or 600 KMT. The Goldman roll starts tomorrow and will last five business days, meaning that August futures will see pressure while September and further deferred contracts will see support. Walmart and Sam's Club have made well-publicize...
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Tuesday’s CPI report from the Bureau of Labor Statistics (BLS) showed inflation roaring back stronger than expected in October. That probably locks in another rate hike – which was expected anyway – at the Federal Open Market Committee (FOMC) meeting in December. Consumer pric...
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...