Soybean futures slipped to a one-week low this morning, falling sharply overnight. This bearish move was caused primarily by rapid planting across the Heartland, and diminished orders from China. Price declines were partly tempered by the decreased projection for Argentina’s 2022/23 soybean crop.
The CME values were mixed as we approached the end of the week. Corn is down $0.1175 to $5.82/st. which is led by losses in the old crop futures. Soybeans held firm and are up $0.0150 to $14.05/st. Soymeal was stronger by $11.90 to $431.40/st while wheat was lower by $0.14 to $6.27/st because the rain in the plains is leading to some additional downward pressure.
Weekly soybean export sales for May 4th in the 2022/23 marketing year were 62.2 thousand metric tons (TMT), 227.6 TMT below last week’s total and 60.8 percent down from the prior four-week average of 234.3 TMT. There…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...