Good afternoon and welcome to Markets Desk, your midday read on the stories moving money and markets.
Grain markets found their footing Tuesday with soybeans leading the charge, front-month contracts up ten to eleven cents as soymeal futures rallied between six thirty and nine ninety a ton. The cmdtyView national cash bean average climbed fourteen and a half cents to twelve sixty, with soy oil adding to the complex's broad-based strength.
Wheat joined the rally across all three exchanges, with Chicago soft red winter contracts finishing five and a quarter to eight and a half cents higher. Kansas City hard red winter added two and three quarters to six and a quarter cents, while Minneapolis spring wheat posted the session's strongest gains, up nine to twelve and a quarter cents on the day.
Stepping back from the commodity pits, a MarketWatch analysis is raising a pointed question about the penny's elimination — Congress patted itself on the back for retiring the one-cent coin, but the piece argues the real issue is the inflation that made it worthless in the first place, and that same force is now quietly eroding the purchasing power of the dollar itself.
That's the tape. Markets Desk, signing off the floor.
