The Market Tuesday’s USDA WASDE report took a toll on soybeans. There was an attempted reversal in trading the next two-days, but today’s market action sealed the week with the November soybean contract losing 1.66 percent in value. December soymeal lost 2.31 percent of value this week but December soyoil added 2.57 percent.
Speculators reduced their net long position in soybeans by 13.1 percent to 40,697 contracts. USDA’s Export Sales report showed record soymeal demand – almost 455 KMT and primarily for unknown destinations. New soybean commitments were at the lower end and soyoil only had washouts.
Soybean export inspections by USDA last week were at the bottom end of expectations and are now down 21...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
