China returned to the U.S. soybean market last week, buying about 1.3 million tons, but November soybeans still fell 34 cents to $12.54. Harvest pressure outweighed the demand, and December corn dropped 16 cents to $4.67.
Beef was more complicated. Boxed beef slipped $1.50 to $374.70/cwt, marking a second straight weekly decline. But fed cattle rose about $4, and Hales Trading says packer margins fell about $25 a head but remain positive.
Meanwhile, cheese blocks gained 30 cents to $1.68, and Class III milk edged up to $15.20. Freight rose 2% to $3,397 per 40-foot container, though Freightos notes a possible start of a downward trend.
ISM Prices Paid remains at 77.9 until the October report arrives November 2. See this week’s score, plus every component and source link, on the FIE Input Cost Index page.
