News
Who is best for U.S. ag sector: Harris or Trump?
Data was mostly neutral compared to pre-report expectations.
A big part of the larger-than-normal increase in beef stocks was due to a downward revision for the August figure.
Grains fell under pressure to end the week while hogs continue to show robust contra-seasonal strength. Cattle paused ahead of this afternoon’s reports.
Access this week’s newsletter here.
CDC rules out human-to-human bird flu transmission | Onion recall linked to E. coli at McDonald’s spreads to Taco Bell, KFC, and more
Wheat led losses overnight with corn and soybeans following to the downside.
Selling pressure mounted during the overnight session, with corn, soybeans and wheat trading near session lows early this morning.
Cash corn and soybean prices rebound but remain well below year-ago.
Veneman supports Harris | Trump leads in WSJ poll | Trump’s tariff ideas come under attack
Corn and soybeans continue to lead strength, while wheat spent most of the overnight session trading near unchanged.
Pre-report expectations ranging from 2.2 MMT to 3.3 MMT indicated analysts expected huge corn sales during the week ended Oct. 17, though net sales topped the range by 300,000 MT. Soybean sales were also notable at 2.15 MMT.
The report highlights economic condition across the 12 Fed districts.
Corn and soybeans built on Wednesday’s corrective gains overnight, while the wheat market traded on both sides of unchanged.
Corn and soybean basis improved over the past week.
Grassley on new farm bill | CDC issues safety alert over McDonald’s Quarter Pounder | EPA Bans Herbicide DCPA
Wheat led overnight weakness with corn and soy pausing recent strength as well. Buying increased in all three into the break.
Corn and soybeans pulled back overnight from corrective gains the two previous days, while wheat more than erased Tuesday’s price strength.