What You Need to Know Today:
This time of year, grain markets are often just one weather forecast away from a sharp rally, and today's hotter, drier outlook provided the catalyst for significant gains in corn and soybean futures. Livestock markets were relatively quiet by comparison, with most hog and cattle futures finishing just marginally changed from the previous close. Today's rally was not driven solely by weather, as a wave of fund buying added fuel to an already heated market. Corn conditions remained at 67 percent good/excellent, while soybean conditions declined by 1 percent to 64 percent good/excellent. The winter wheat harvest is now 59 percent complete. Export inspections were mixed, with wheat down 66 percent from the previou...
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...
