The Market After dropping lower during the first four trading sessions of this week, May soybeans closed up on Friday by nearly 15 cents. However, that only paired part of the losses for the week and the contract’s net for the week was a decline of 0.9 percent. May soyoil also took a loss for the week, losing 3 cents of 6.1 percent in value. The bright spot was soymeal, with the May contract gaining $13.30 or 3.39 percent after five trading sessions. The gains and losses were shallower for the November soybeans/December meal and oil contracts.
In the week to 9 April, speculators increased their net short position in soybeans by 1.7 percent to 159,082 contracts. This week featured the April USDA WASDE, and it added to...
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...
