The Market There were notable price movements the past few days despite it being a holiday abbreviated trading week. November soybeans gained 37.25 cents in just the past two days and the July soybean contract added 15.25 cents for the week despite taking a sharp loss on Tuesday. Soyoil lost its key driver of rapidly expanding renewable diesel demand but added value this week on rising vegetable prices globally, and a jump in regular diesel prices. Soymeal shed value amidst ongoing concern in the pork and beef sectors.
This has been a generally firming week of trade, but speculators increased their net short position in soybeans by more than 100 percent to 10,960 contracts in the week to 30 May. USDA’s Drought Monitor shows...
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...
