Soybeans start day up 2¢, corn down/ Tuesday, November 29, 2022
Corn is down a penny this morning while soybeans are up 2¢.
CBOT wheat is up a penny. KC wheat is down 5¢. Minneapolis wheat is down a penny.
Live cattle are down 10¢. Lean hogs are down 8¢. Feeder cattle are down 3¢.
Threat of a railroad strike looms as the deadline for an agreement is Dec. 9. Naomi Blohm with Total Farm Marketing says a strike could impact 20% of U.S. GDP.
Yesterday, President Joe Biden called on Congress to adopt legislation that would avoid a strike.
Amidst protests across China, the International Monetary Fund is calling on China to shift from the zero-COVID policy, AP reports. IMF Managing Director Kristalina Georgieva says, “Exactly because of the impact it has on both people and on the economy.”
Crude oil is up $1.95 this morning.
Milling wheat is down on the MATIF trade. On the Dalian trade, corn is up while soybeans are down.
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Brazil’s sugar production to rise 14% in 2027/28 — Rabobank
Jordan issues tender to purchase 120 thsd tons of barley
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