Given certain developments regarding soymeal and soyoil in November, some stockpiling in the near term makes sense. Nonetheless, the massive turnover and size of the open interest for both soymeal and soyoil futures contracts on the Dalian Commodity Exchange dwarf the actual physical market in China.
Oilseeds November Soymeal Inventories Revised Revised survey data related to China’s major soybean crushing facilities shows capacity utilization rates were lower than previously reported. It indicates crushers have generally been operating at 50 percent or less utilization in recent weeks. These low rates have been successful in propping up both the cash and futures markets for soymeal during November. The revised data also...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
