Tidbits, Corn Resistance, Economy, Lower Tariffs, Oil Markets, Ethanol 11/6/25
- Wright team
- 11 minutes ago
- 4 min read
Tidbits
Corn: There were multiple reports that farmer sales of corn increased yesterday. December corn has tested the 200 day moving average 2 of the last 5 days. That moving average line is at $4.36½ today. Dec corn has been below the 200 day moving average since 6 June. So it is major technical resistance! We do expect corn and beans to weaken in the coming days because Friday next week is the first S&D from USDA in two months.
Shutdown: Reportedly 8 Democrat senators have indicated a willingness to abandon their party’s position and vote with Republicans to end government shutdown. But when?
ADP announced yesterday morning that private sector employment in the U.S. rose by 42,000 jobs last month after losing 29,000 jobs in September. Analysts expected a decline of 28,000 jobs. They should have paid attention to the U.S. PMI numbers earlier this week.
U.S. services activity rose to an eight-month high in October, with the ISM non manufacturing PMI at 52.4, up from 50.0 in September and above the expansion threshold, though hiring remained subdued amid tariff-related uncertainty and a government shutdown; economists expected 50.8. The services sector, which makes up more than two-thirds of GDP, showed solid new orders and activity, but mixed employment signals with a lagging labor market.
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