Improvement in Soil Moisture Drives Wheat Futures Lower
Grain and feed prices were mixed following the long holiday weekend. Concerns about South American growing conditions and robust demand from Chinese buyers supported corn futures. However, profit-taking triggered by progress in resolving the Argentine port strike left soybean and soybean meal prices mixed, with nearby contracts down. At the same time, the liquidation of bull spreads supported the back end of both curves. Light short oil share spreading by funds limited the decline in nearby soybean meal futures. Wheat prices were broadly lower as precipitation across the U.S. Plains improved soil moisture levels.
Nearby soybean futures fell about 1/2 percent (March contract -7 1/4 cents per bushel), but the benchmark contract managed to hold the psychologically important $12.50 level. Prices fell by more than 16…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...