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Tidbits, Fuel Hedge, PPI, Markets & Rain Days Update 10/12/23


USDA October S&D will be issued at 10 AM Mountain Time today.

Crude oil was weaker yesterday because Saudi Arabia said it will do its very best to keep world crude oil supplies flowing at a constant rate in the event one or more oil exporters decide to restrict or cannot export crude oil. Most eyes are on the possibility of Israel hitting Iran’s oil industry.

Yesterday morning, the USDA announced the sale of 121,000 mts of old crop soybeans to China and 213,000 mts of old crop soybeans to unknown.

The minutes of last month’s Federal Reserve Board of Directors meeting were released yesterday afternoon and they reflected that most of the Fed officials see one more rate hike "would likely be appropriate."

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