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…
11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...