- US exports of soybean products will not make up the projected difference in lower US soybean exports.
- February live cattle are also in a contra-seasonal selloff, also despite continued commercial buying indicated by futures spreads.
- Markets are indicating the US economy is heading into the holiday season in good shape, despite everyone saying things to the contrary.
As we head into the US Thanksgiving Day holiday there are a few market leftovers I want to clean up before folks are hit by Tryptophan Thursday and US Football Friday. A look at my page on Barchart shows I’ve spent a good deal of time talking about US soybean exports, the bloodbath in live cattle, and the recent selloff in crude oil. There have also been several other hot topics, most notably the continued relay race in the softs sector where markets take turns carrying the baton to new historic highs. We’ve also seen a resurgence in gold, while US stock markets are in position to extend 2023 rallies before we close the book on November.
