Tidbits, USDA’s Methodology, Futures Move, Interest Rate, E15, Broilers & Ethanol 1/29/26
- Wright team
- 2 hours ago
- 5 min read
Tidbits
Futures: March soybeans, and all three March wheat contracts made new highs for the year yesterday and March corn traded to its highest price since before the USDA S&D on 12 January, despite the dollar index being a little higher yesterday for the second day in the past 8 days. Prices were supported by higher crude oil, cold temperatures (more soybean meal and corn for feed demand, fewer farmer sales, potential winter kill on wheat), expected strong export sales today, biofuel optimism, and simply technical buying. Corn and beans settled in the middle of the day’s trading range, but the two winter wheat contracts settled about 25% from the high for the day. A true technician will be buying more corn, wheat and beans today.
The Federal Reserve announced it left interest rates unchanged yesterday afternoon. The Fed governors voted 10-2 to keep rates unchanged in the 3.50%-3.75% range.
Indonesia: The USDA will lead a trade mission to Indonesia next week to expand market access, boost American agricultural exports, and take advantage of the new opportunities created by the U.S.-Indonesia Agreement on Reciprocal Trade. Indonesia is the world’s fourth-largest country by population, with a rapidly growing middle class. It is also a top market for halal dairy and beef products, soybeans, wheat, feed ingredients, and consumer‑oriented goods.
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