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Highlights Iran announced yesterday in the UN in New York, Iran it will not defend Hamas, saying "the resistance can defend themselves. Iran's armed forces will not engage, provided that the Israeli apartheid does not dare to attack Iran, its interests, and nationals." Wednesday will see the release of Chinese September unemployment, industrial production, retail sales and business investment figures, but more importantly, third-quarter GDP. The market sees China’s GDP equal

Politics Not a word about Ukraine’s corruption and its links with US political figures the past 24 hours. Rep. Jim Jordan (R-Ohio) is the leading candidate for the Speaker position and he said he is against Ukraine aid. The war will not continue very long without US aid. If the war ends, is that bearish or bullish wheat and corn? In the first year or two, it will depend on how well the two enemies can work together to get everything up and running. About half of the House Rep

Highlights Definitions: Moving average: a commodity’s (or stock) price for the past X number of days averaged each day; a 20 day closing price moving average would add the settlement of the past 20 days and divide the answer by 20. Tomorrow, the oldest day’s settlement will be removed and replaced by tomorrow’s settlement price. A moving average could be the opening price, the high for the day price, the low for the day price, etc. Short: When a person sells futures contrac

Highlights The Speaker of the House of Representatives, Kevin McCarthy, lost his job yesterday afternoon by a vote of 216 to oust to 210 supported him. Eight Republicans and all the Democrats voted to remove McCarthy. He said he will not run again for the job. Steve Scalise is the #2 Republican in the House and he had previously said he would seek the job when McCarthy retired, but he has not said if he is ready to step into the job now. Some Republicans are supporting FL Co

Highlights Weekly export sales reported Thursday morning were a net reduction of 315,600 mts of old crop corn. It has been more than 20 years since weekly corn sales were a net reduction in May. The market knew China had cancelled about 570,000 mt of corn purchases two weeks ago, but the expectation was other buyers would offset the cancellations to get at least a net positive sale for the reporting week ending a week ago Thursday. None-the-less, corn futures were smartly hig

Highlights There is a growing sense of relief and optimism that the banking shock is abating, the Federal Reserve’s vice chairman for supervision, Michael Barr, and FDIC Chairman Martin Gruenberg told US lawmakers on Tuesday. They said that depositor funds in U.S. banks are safe and sound. The market believed them for at least one day. They also said tougher regulations will be forthcoming. China announced it will ease regulatory crackdowns and support private enterprises’ t