Weekly Recap
Soybean futures closed lower on a weekly price basis for a second consecutive week. Selling pressure accelerated on stronger yield expectations. Soybean prices declined 24.5 cents per bushel for September and 25 cents for the November futures contract. Price resistance is seen at $9.01 versus support at $8.50. Friday’s soybean future price was 20 cents per bushel below values from a month ago and 33 cents below pricing two weeks ago. The latest Commitment of Traders (COT) report showed managed money reduced overall net long exposure 29 percent. Long positions were trimmed 14,486 contracts while short positions increased 3,456 contracts. Net long exposure declined from 62,161 contracts to 44,219.
Soybean meal futures fell over three percent in value from the…
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...