Weekly Recap
Soybean futures edged lower on a weekly basis and have seen lower weekly closes in three of the past four weeks. Prices fell one fourth of a cent per bushel for the May contract and 2.75 cents for July. Concerns are surfacing regarding China’s desire to achieve Phase 1 purchase agreements. Friday’s Commitment of Traders (COT) report showed managed money moved from being net long holders of futures to net short. Speculators added 15,735 short future positions to move overall holdings to net short 2,864. Price resistance is seen at $8.49 vs support at $8.13. Futures prices are 49 cents per bushel below value seen at this time last month and down 31 cents per bushel during the past two weeks.
Soybean meal futures closed lower on a weekly basis for the fifth straight week and have seen…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...