The Market The March soybean contract ended 2022 at $15.24/bushel, the fourth yearly rise in soybean values. As this first week of trading in 2023 comes to an end, March soybeans are down 31.5 cents at 1492.5/bushel. March soyoil lost almost a penny this week while March soymeal saw a net gain of $6.60 and is valued at 477/6/ST. In fact, today saw a contract high with March soymeal trading intrasession at 479/ST.
The question is whether soybeans were overdone in 2022 and are now part of a broader commodity sell-off for 2023? Or is this just one more in a long series of retracements as the market gyrates trying to find real value?
Despite the decline in soybean prices, the weekly CFTC report showed non-commercial soybean specula...
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...
