Weekly Recap
Soybean futures moved lower on a weekly basis for the first time in three weeks. Futures prices declined 12 cents per bushel for the July contract and 11.25 cents for August, erasing the prior two weeks of gains. Weekly price movement continues to be constrained by resistance at $8.50 per bushel. Optimism over potential Chinese demand and slower than normal planting progress is buoying values but is also tempered by escalating tensions between the US and China. Stronger than expected crush demand is also working to support soybean prices. Friday’s Commitment of Traders (COT) report showed managed money increased overall long positions by 264 percent. Long holdings advanced 15,129 contracts while shorts were reduced 8,428. This moved the net long position from 8,908 to 32,465…
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...