Agriculture News
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.
Grain and soy complex futures posted quiet, two-sided trade overnight as traders start to prepare for Tuesday’s November crop reports from USDA.
Projections of note for the 2022-23 marketing year.
The bigger crop estimate is expected to increase the 2021-22 bean ending stocks projection. But traders see corn carryover declining a little, as ethanol use is likely to rise.
Beef exports to China are up more than 700% this year, while pork shipments are down 37%.
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Corn and wheat futures are posting mild corrective gains early this morning.