The Market Soybeans sharply rebounded on Friday after hitting a one month low the day before, likely on short covering. For the week, May soybeans lost 16.25 cents (-2 percent) and November soybeans gave up 15.25 cents. The latter new crop contract still carries an 11 cent premium over the soon to expire May contract. May soymeal closed down $5.80 (-0.3 percent) at 343.2/ST, and May soyoil shed .28 cents (-2 percent) to end the week at 44.94/pound. Palm oil spent the week losing money and is at a six-week low, and canola futures gave up 3.7 percent on the week.
The subject of USDA’s substantially higher estimate of Brazil’s soybean crop than the one used by its counterpart agency, Conab, was a topic at the...
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...
