Weekly Recap – DDGS Values Trade Beyond November Average
Soybean futures headed lower on a weekly basis for the first time in five weeks Brazilian soybean planting is 90 percent complete and rains in South America have been leading speculators to exit long holdings, which has reduced soybean price support with values facing strong resistance at $12 per bushel. Global supply remains concern while strong interest from China continued to show in the weekly export report. Despite China’s buying presence, overall soybean exports were at the low end of expectations in last week’s report. However, this season’s export pace is 102 percent over last seasons. Price resistance is seen at $11.61 (followed by 12.02) versus support at $11.25 for the January futures contract….
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...