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Profit taking hits the soy complex. Short covering in wheat, corn caught in the middle. Cattle consolidate then hit all-time highs, better No. cash, Crude oil strong. Darin Newsom, Barchart has details.
Mortgage interest rates just hit a twenty-year high, topping 7%. High borrowing costs will slowly dampen farmer demand for acres as record land prices mean all but a few will have to borrow some to buy.
There are just over two weeks for Congress to pass 12 spending bills to avoid a total government shutdown. If time runs out, one analyst says that could mean no USDA report in October and no yield cuts, which are likely.
Environmental and fossil fuel organizations have launched a series of lawsuits against EPA’s latest standards for renewable fuel.
Grain markets remain mostly rangebound while cattle futures climbed to new highs. Lean hogs finished the day under moderate pressure.