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Traders expect USDA to raise corn and soybean estimates in today’s report, the Biden Administration mulls releasing crude from reserves and cash cattle prices hit long-time high...
Ahead of the Open | November 8, 2021 Soybean futures fall to three-week low ahead of USDA reports, corn lower, wheat mixed.
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.
White House to closely watch EIA energy price data tomorrow
USDA Supply/Demand reports Tuesday: Federal Reserve officials will speak this week
A delay for Build Back Better package until week of Nov. 15, with a caveat
After the Bell | November 5, 2021 Corn, soybeans futures end week lower with USDA seen raising estimates in Nov. 9 Crop Production report.
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.