The Market Soymeal continues to be the drag on the market but even soyoil did not help much this week. Soybean prices were down about 12 cents for this week, with meal losing $13 and soyoil off a fraction. But soybean prices are up nearly 5 percent over the past month and that is the larger trend. The latest drivers, a weakening dollar and China going soft on Covid controls should provide a more supportive environment. Soybean prices in China are still nearly a third higher than in Chicago.
Of course, ever present is the war trimming edible oil supply, and renewable diesel gobbling up whatever is available. The renewable diesel demand creates a situation where the premium for soyoil is now 30 percent over rape/canola...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
