Weekly Recap
Soybean futures to edged higher on a weekly basis for the first time in three weeks. Futures finished the week with a ¾ of a cent gain for the July contract and 0.70 cents for August. Weekly price movement continues to be constrained by resistance at $8.50 per bushel. Optimism surrounding China’s phase one demand became less so during the week. China announced it will be halting purchases of US soybeans. Friday’s Commitment of Traders (COT) report showed managed money continued to reduce long holdings while adding to short positions, moving from net long 12,064 futures contracts to 5,813. Price resistance of $8.50 is currently in play. Support is seen at $8.08 with additional resistance at $9.01. Futures prices are nine cents per bushel below values seen at this…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...