Soybean and soybean meal values moved sharply lower last week, falling seven percent and nine percent respectively on the CME. Soybean values fell quickly from their recent highs, giving back two weeks of price gain as improved weather conditions in South America are causing traders to factor in better production forecasts. The stocks to use ratio remains low and should underpin prices to a certain extent moving forward. Prices are rebounding on Monday and volatility will likely continue as the Brazil harvest moves forward. Speculators reduced their long exposure with money managers selling over 14,000 long soybean contracts. Net overall long holdings were reduced nine percent.
Corn values also reversed course last week, falling six percent for both the March and May futures contract. Despite some bullish price news,…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...