Weekly Recap
Soybean futures closed lower on a weekly price basis for the first time in three weeks. Further declines in soybean price might be limited due expectations that the soybean crush will continue to move at record levels. Soybean prices declined 7.25 cents per bushel for August and 8.50 cents for the September futures contract. Price resistance is seen at $9.01 versus support at $8.81. Futures prices finished the week six cents per bushel above values seen at this time last month but a penny below pricing two weeks earlier. Friday’s Commitment of Traders (COT) report showed managed money reduced their overall net long position by 18 percent. Long positions were reduced 2,752 contracts while 10,896 short positions were opened, reducing overall long exposure 13,648 contracts to 62,161.
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11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...