Solid Export Data Support Grain and Oilseed Futures
Grain and oilseed futures continued to rally on Thursday as a short squeeze triggered buying despite the bearish production data released by the United States Department of Agriculture (USDA) on Wednesday. While traders were focused on the production numbers ahead of the report, relatively bullish changes to the demand sides of balance sheets have driven buying and pushed futures markets off the recent lows. Whether the market will continue to rally in the coming weeks will depend on a mixture of growing conditions and fundamental news, like weekly export sales.
Corn futures jumped about 3 1/2 percent (December contract +11 1/2 cents per bushel) as concerns about crop losses due to the recent storms in Iowa and Illinois combined with weather forecasts projecting warmer weather conditions to raise doubts about USDA’s…
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...