Agriculture News
Recent price strength has also turn the short-term trend up for soybean meal and intermediate trend sideways.
The surge in consumer prices came a day after data showed producer prices also jumped sharply in October.
Corn futures extended their gains but failed to clear yesterday’s highs. Wheat futures were mostly firmer overnight
Projected U.S. ending soybean stocks up less than expected.
USDA lowered its soybean crop by 23 million bu., whereas traders expected a 36-million-bu. increase.
Spring wheat futures led overnight gains in light trade ahead of USDA’s November crop reports later this morning.
The HRW rating is well below the five-year average, while the SRW rating is still above its norm for early November.
Cash market expert Angie Setzer sheds light on the local elevator and how it works.
Soybean inspections topped 2.6 MMT the week ended Nov. 4.
Grain and soy complex futures are under pressure to open the week. Live cattle futures opened weaker but have since reversed course and lean hog futures opened firmer but have turned mildly softer.
Short-term trend turns up for live cattle and sideways for hogs.