Weekly Recap
Soybean futures moved higher on a weekly basis for a second consecutive week, gaining four percent in value by the end of the week. Weekly price movement snapped through resistance at $8.50, a level that had been holding prices down for the past seven weeks. Stronger than expected export demand helped to buoy values. Despite China’s announcement that they will halt US soybean purchases, they were still the top export sales destination, at least for last week. China’s announcement came on June 1, which could lead to softer sales moving forward. Friday’s Commitment of Traders (COT) report showed managed money added to overall net long holdings for the first time in three weeks. Short positions were trimmed 579 contracts while 245 long positions were added, boosting the overall long position to…
01.07.2025
Biodiesel imports climb 10% from 2-year low; exports fall to lowest level since January 2024
US Census Bureau data released on Tuesday January 7 showed a monthly divergence in biodiesel imports and exports. Biodiesel import volume rose from a two-year low last month, climbing...
01.07.2025
Packer BFT trades higher; rising HO/SBO prices lift UCO sentiment
Three railcars of packer-grade bleachable fancy tallow (BFT) traded higher at 45 cents per lb, Chicago basis on Tuesday January 7.
Apart from this trade and continued activity in choice...
01.07.2025
Poultry by-product pet grade lower on export unease, possible winter weather in Mid-South, Southeast
US animal proteins had limited price changes indicated on Tuesday January 7 due to a quiet tone reported by multiple market sources.
Price pressure was reported on poultry-related...