End-of-Year Position Squaring Drives Wheat Rally
Wheat futures rose sharply on Wednesday on short-covering ahead of the long holiday weekend. The rally left the benchmark Chicago contract (March contract +22 1/4 cents per bushel) at a life-of-contract high, while the benchmark Kansas City contract rose (March contract +16 1/4 cents) to its highest price for 2020 but settled about 30 cents below its life-of-contract high. In the Minneapolis benchmark contract, gains (March contract +15 3/4 cents) left it at its highest price since January and about 20 cents below its life-of-contract high. All three contracts settled at or above their upper Bollinger bands, suggesting the potential for short-term weakness.
Corn futures rose for the 13th consecutive day, with the benchmark contract gaining nearly two percent (March contract +8 1/2 cents per bushel). News that…
01.08.2025
Tallow trades persist amid tight markets; DCO, ethanol production down slightly
Trade in the US tallow markets continued to gain momentum on Wednesday January 8, following sluggish demand throughout much of December.
Another four railcars of packer-grade bleachable fancy tallow (BFT)...
01.08.2025
US ruminant meat and bonemeal prices fall further in most regions
Meat and bonemeal spot prices in the US dropped further on Wednesday January 8. A sizable number of distressed loads of both porcine and ruminant meat and bonemeal were...
01.08.2025
US weekly ethanol production drops; stocks reach 7-month high
US weekly average ethanol production fell to 1.102 million barrels per day in the week to Friday January 3, according to the US Energy Information Administration (EIA) report released...