Weekly Recap
Soybean futures to edged higher on a weekly basis for the first time in three weeks. Futures finished the week with a ¾ of a cent gain for the July contract and 0.70 cents for August. Weekly price movement continues to be constrained by resistance at $8.50 per bushel. Optimism surrounding China’s phase one demand became less so during the week. China announced it will be halting purchases of US soybeans. Friday’s Commitment of Traders (COT) report showed managed money continued to reduce long holdings while adding to short positions, moving from net long 12,064 futures contracts to 5,813. Price resistance of $8.50 is currently in play. Support is seen at $8.08 with additional resistance at $9.01. Futures prices are nine cents per bushel below values seen at this…
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...