It was another losing week for soymeal but soyoil will likely be at the top of the financial market’s percentage gainers.
According to the CFTC, managed money slashed its net short in CBOT soyoil in half to 19,198 contracts, but it still wasn’t enough. Soyoil was red hot this week, rising 10.2 percent, as a rumored competition has broken out between biodiesel makers and food makers that weren’t properly covered. That helped pull soybeans higher despite the bearish WASDE report. Soyoil is now pegged as the most expensive vegetable oil on the market. However, this is not its first time at the top. Recall that the same renewable biodiesel dynamic had it trading above 60 cents back in February and it got close to 70...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
