Profit-Taking Weighs on Grain and Oilseed Futures

Profit-Taking Weighs on Grain and Oilseed Futures

Profit-Taking Weighs on Grain and Oilseed Futures

Profit-taking weighed on grain and oilseed markets on Friday. Traders took profits but did not drive prices substantially lower, which given the size of the move higher on Thursday, indicates the recent trend may remain intact. Of course, the short-term direction of the market will depend on traders’ and analysts’ assessment of the damage done to the crops in Iowa and Illinois and the outlook for growing conditions in the second half of August and early September.

Soybean futures were narrowly mixed with most contracts rising or declining by less than 1/4 percent (November contract -3/4 cents per bushel). However, the declines were slightly larger for contracts with deliveries after March 2021, with most trading about 1/4 percent lower. The move lower on Friday occurred on a volume total that was well below the level on…

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11.25.2024

Glycerin prices mostly stable even amid tightening kosher supplies

Glycerin prices mostly stable even amid tightening kosher supplies

Glycerin prices were mostly stable on Monday November 25, with one source saying “market prices seem to be holding for now.”

Kosher glycerin supplies are “getting tighter,” according...

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Packer BFT, CWG trade higher; hog slaughter down week on week

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Five cars of packer BFT traded...

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Cattle slaughter six-week average projection down for holiday season

Cattle slaughter six-week average projection down for holiday season

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Price pressure on ruminant meat...

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