Good afternoon and welcome to Markets Desk. Here's where things stand heading into the close.
In the agricultural pits, soybeans are holding modest midday gains, up two to four cents, as traders square positions ahead of the weekend. The cmdtyView national cash price is sitting at eleven dollars and thirty-two cents, with soymeal firming while soy oil dips slightly into the close.
Cotton is telling a more decisive story today, rallying eighty-six to ninety-nine points at midday and drawing support from a weaker dollar and firmer crude oil, which is up over a dollar twenty a barrel. Old crop export commitments came in at nearly twelve million running bales as the marketing year rounds out, giving bulls something to lean on.
Shifting to Washington, the White House is reviving its push to remove Federal Reserve Governor Lisa Cook. Trump aide Dan Scavino has informed Cook that there is, quote, sufficient reason to believe she made false statements on one or more mortgage agreements. The move renews questions about executive pressure on Fed independence, a dynamic markets have been watching closely all year.
That's the tape. Markets Desk, signing off the floor.
