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Macy’s receives buyout bid | Commentary says ‘tariffs are for losers’ | Chinese pork prices tumbled last week
Biden to host Ukrainian president Tuesday | COP28 summit seeks U.S./China agreement
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USDA cut corn, wheat and cotton ending stocks, while leaving soybean carryover unchanged.
Global carryover for corn and soybeans each surpassed pre-report expectations by 1.8 MMT and 1.5 MMT, respectively, largely neutralizing the lower-than-expected U.S. corn carryover.
Markets scaling back rate cut expectations, move to near even in March vs being over 50% for cut in March
UN Global Food Price Index skids lower, CCP commits to providing support to Chinese economy and Speaker Johnson suggests CR...
Corn and soybeans favored the upside overnight, while wheat saw some profit taking, though went into the break well off session lows.
Corn, soybeans and wheat held in relatively tight trading ranges overnight ahead of USDA’s December crop reports later this morning.
Biden administration regulatory agenda has some surprising omissions re: RFS
Corn and soybeans are expected to open lower, with wheat likely to see a mildly varied start (winter wheat markets lower, spring wheat higher) to daytime trade.
Corn sales during week ended Nov. 30 totaled 1.3 MMT, while shipments reached a marketing-year high. Soymeal and soyoil shipments during the week also notched marketing-year highs.
Early seller interest faded overnight, with corn, soybeans and wheat all trading solidly higher early this morning.
SRW wheat basis firmed despite the surge in cash price.
Moscow’s oil revenues have increased since the start of the war, Smithfield slashes Utah hog production and cash hogs are still searching for a floor...
G.T. Thompson diagnosed with prostate cancer | More U.S. SRW wheat, soybean sales to China