Welcome to Markets Desk, your midday check on the stories moving markets right now.
Soybeans are the standout mover in the grain complex today, with contracts trading twenty-five to nearly thirty cents higher at midday following fresh news out of the EPA and a drop in crop condition ratings. The national average cash bean price is pushing twelve dollars and sixty-one cents, with strength spreading into soymeal and soy oil as well.
Cotton is telling the opposite story, giving back ground in what traders are calling a classic Turnaround Tuesday selloff, down a hundred thirty-one to a hundred fifty-two points at midday. A stronger dollar, up nearly twenty-eight cents on the index, and a crude oil decline of three dollars and eighty-one cents per barrel are both weighing on the fiber market, which had seen gains to start the week.
Away from the commodities pits, International Paper shares drew attention in the equity market today after the stock crossed a notable threshold, with its dividend yield climbing above five percent based on an annualized payout of one dollar and eighty-five cents per share, touching a session low of thirty-six dollars and thirty-four cents.
That's the tape. Markets Desk, signing off the floor.
