Tidbits, Market Comment, Brazil Weather, Crude Oil, China, Broiler & Ethanol 11/13/26
Tidbits
Yesterday was a very disappointing day. We received a favorable S&D on Tuesday and the Russia-Ukraine peace talks that ended Wednesday did not bring any chance the Black Sea will open for grain shipments. None-the-less, wheat and corn suffered large losses yesterday.
All three major commodities were pressured by a much stronger dollar and a much weaker Brazilian real. That combination strongly favors Brazil’s products over U.S. products for foreign buyers.
The dollar was sharply higher as the market fully expects the Federal Reserve will raise interest rates by as much as 50 basis points (half a percent) at its next FOMC meeting on 8-9 December. Brazil’s economy is expected to continue to falter due to its move toward more socialist policies.
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