Weekly Recap
Soybean futures continued to edge lower on a weekly basis for a second consecutive week. Futures prices finished the week 5.25 cents per bushel lower for the July contract and 4.25 cents for August. Weekly price movement continues to be constrained by resistance at $8.50 per bushel. Optimism surrounding Chinese demand and slower than normal planting progress had been buoying values. Political saber rattling with China and improved planting conditions over the past week are offsetting some of the upward price pressure. Stronger than expected crush demand is also working to support soybean prices. Friday’s Commitment of Traders (COT) report showed managed money reduced long holdings while adding to short positions, moving from net long 32465 futures contracts to 12,064. Price…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...