The Market Brazil has been winning the soybean export war, and imported biodiesel feedstock threatens domestic crush margins, but Chicago trading this week appeared to shake off such concerns. July soybeans traded lower for the past three trading sessions but larger gains achieved at the beginning of the week enabled the contract to close out on Friday with a 2.5 percent gain at 1177.25/bushel. July soymeal was up 2.2 percent this week and is now valued at 344.7/ST; and July soyoil was up 2 percent at 45.54/pound.
Speculators reduced their net short positions this week by nearly 10 percent to 164,023 contracts. USDA’s Crop Progress report showed that 8 percent of expected soybean plantings were sown as of last week. That is...
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...
