Weekly Recap – Corn and Wheat Pushing through Price Resistance Ahead of Reports
Soybean futures ended last week lower, the first lower weekly close in five weeks. Prices dropped 11.5 cents per bushel for the July contract and 16 cents for August, erasing three weeks of gains. Export sales have moved lower over the prior two weeks, taking some of the optimism surrounding strong China demand for soybeans out of the market. Friday’s Commitment of Traders (COT) report showed managed money rapidly reduced short holdings during the week. Short positions were fell 14,713 contracts while long positions increased 8,389, boosting the overall long position 109 percent to 44,285. Price resistance is seen at $8.82 versus support at $8.50. Futures finished the week 24 cents per bushel above values seen at this time last…
01.22.2025
Be8, Cemvita to study glycerin-to-SAF feasibility in Brazil
Brazilian biofuels producer Be8 and US-based biotech company Cemvita signed a memorandum of understanding to study the technical and economic feasibility of converting glycerin into sustainable aviation fuel (SAF),...
01.22.2025
CWG prices jump 17% from prior week on strong renewable demand
The choice white grease (CWG) market continued to trade higher on Wednesday January 22 with deals done as high as 42 cents per lb FOB Missouri River, but the...
01.22.2025
US weekly wheat, soybean export inspections decline; corn up 7%
Export inspections of US grains showed a decline for soybean and wheat, while corn increased in the week to January 16, according to data from the USDA released on...