US Reopens Mexico Border Crossing Amid Grain Market Uncertainty
Grain futures were mixed overnight, with December corn up 3/4 cent and November soybeans down 11 3/4 cents. The market bulls are still seeking fresh news to restart their price uptrends.
The National Weather Service forecasts active weather across the northern Rockies into the Great Lakes into the weekend, with showers and thunderstorms bringing heavy rainfall and flash flooding potential to parts of the Midwest and Ohio Valley.
The US is reopening its largest border crossing for Mexican live cattle shipments, with nearly 500,000 cattle shipped through the Santa Teresa port in 2024, about 40% of total imports from Mexico.
The Bank of Japan raised its key short-term rate by 25bps to 1.25%, taking borrowing costs to their highest level since April 1995. The hike came just three months after the previous increase.