The Market It was the seventh week of lower closes for March soybean futures. After this week’s 1.7 percent haircut, soybeans are now trading at a two-year low and at less than $12/bushel. All calendar year 2024 soybean futures contracts are now below $12/bushel, except oddly the July contract. March soyoil lost 4.6 percent on the week after settling today at 44.73/pound. The March and May contracts for soymeal hit contract lows to start the week but bounced higher thereafter, adding 2.2 percent in value following Friday’s close at 356.8/ST.
Speculators in the most recent week added 73 percent to their net short position with a total now at 146,623 contracts. USDA’s weekly Export Sales report showed...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
