The Market For the week, front month contracts saw a 4 percent decline (-25.75 cents) in soybeans (1179.25/bushel), a 1 percent decline (-$4) in soymeal ($360.7/ST), and a 4.1 percent (-1.89 cents) in soyoil (43.63/pound. Speculators increased their net short position in soybeans by 3.7 percent to 90,486 contracts. USDA’s 28 June Acreage report could tank things further if it shows acres switching from corn to soybeans as some expect.
USDA’s latest Crop Progress report showed that 78 percent of expected soybean plantings were sown as of last week. The trade expected an 80 percent planting rate. Farmers are now ahead of the historical average, though still behind from last year due to rains disrupting the effort. Soybea...
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...
