Wheat
Arlan Suderman of StoneX joined market specialist Tony St. James to discuss the USDA’s October WASDE report and its implications for corn, soybeans, cotton, and commodity demand.
China remained the leading destination for U.S. soybeans as weekly sales declined.
Winning bids averaged about $1.3 million as demand for 2027 grain rail capacity increased.
USDA reported 2.10 billion bushels of corn on hand, well above trade expectations.
Recent rainfall could help wheat pasture after drought limited summer grazing.
Late-summer and fall video auctions have shown some pens scratched or passed, leaving cattle that could return to market as fed cattle as feeder prices rise.
Transportation costs increased on every major U.S. wheat route to Japan during the second quarter.
Wet weather is delaying harvest in Alberta, Saskatchewan, and Manitoba, threatening wheat and cereal quality, raising drying costs, and risking field compaction next season.
Washington wheat farmers face rising labor, fuel, and other costs, with growers reporting a current break-even price of $7.71 per bushel.