Weekly Recap
Weekly soybean futures prices cruised higher for a sixth consecutive week, reaching closing highs not seen since April of 2018. The November and January futures contracts climbed 20 percent during the six-week period, coasting five percent higher during the past week. Prices are buoyed by weather and export activity; any profit taking from the recent runup in price will likely be limited due to an expected continuation of strong Chinese demand. Frost was reportedly more damaging than many thought and is now expected to lower potential yields for North Dakota, South Dakota, and Minnesota. Soybean prices climbed 47.5 cents per bushel for the November futures contract and 48 cents for January. Price resistance is seen at $10.58 versus support at $10.17 for the November futures contract. Friday’s close was $1.39…
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...