Corn and soy start the day in the red. Tuesday, October 1, 2024
December corn is down less than a penny this morning.
November soybeans are down 5¼¢.
USDA announced this morning that unknown destinations are buying 195,000 metric tons of corn and 120,000 metric tons of soybeans for the 2024/2025 marketing year.
December wheat contracts are higher this morning. CBOT wheat is up 4¼¢. KC wheat is up 4¾¢. Minneapolis wheat is up 5¼¢.
“Port workers walked off the job from Maine to Texas early today, beginning a historic strike involving 45,000 workers at 14 major ports,” says Arlan Suderman, chief commodities economist for StoneX. “The primary questions are: How long will this strike last, and what will it cost? Even a short strike will have a significant impact on the U.S. economy, but a prolonged strike could provide a significant drag on the global economy as well.
“President Biden has repeatedly said that he will not intervene. After all, the labor unions are a key block that Democrats are counting on in this election. However, he also can’t afford to see the economy take a sharp downturn ahead of the election, putting his administration in a tight spot.”
November crude oil is down 50¢.
The U.S. Dollar Index December contract is up to 100.90.
December S&P 500 futures are down 7 points. December Dow futures are down 68 points.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon