Weekly Recap
Soybean futures edged lower on a weekly basis and have seen lower weekly closes in three of the past four weeks. Prices fell one fourth of a cent per bushel for the May contract and 2.75 cents for July. Concerns are surfacing regarding China’s desire to achieve Phase 1 purchase agreements. Friday’s Commitment of Traders (COT) report showed managed money moved from being net long holders of futures to net short. Speculators added 15,735 short future positions to move overall holdings to net short 2,864. Price resistance is seen at $8.49 vs support at $8.13. Futures prices are 49 cents per bushel below value seen at this time last month and down 31 cents per bushel during the past two weeks.
Soybean meal futures closed lower on a weekly basis for the fifth straight week…
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...