Weekly Recap
Soybean futures continued higher on a weekly basis for a third consecutive week. The September and November futures contracts are up nearly 10 percent during this period. Reduced yield expectations for the US soybean crop is alarming the market as reduced rainfall during a critical developmental stage is increasing the odds that some plants may abort pod development, leading to reduced yields. Soybean prices climbed 49.75 cents per bushel for the September futures contract and 45.75 cents for the November. Price resistance is seen at $9.66 versus support at $9.25. Friday’s close was 30 cents per bushel over values from a month ago and 22 cents above pricing two weeks back. The latest Commitment of Traders (COT) report showed managed money increased net long holdings two percent to 109,288…
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...