The Market The USDA July WASDE was directionally bearish but not as much as expected. The trade initially turned higher after the report’s release but couldn’t sustain the turnaround. Instead, the week involved the November contract falling from grace, or at least dropping below the psychological $11 level. The next support level is $10.50 but with nothing to stop its fall except perhaps very unfavorable weather in August, sub-$10/bushel soybeans are in sight.
December soymeal had an equally bad week. There was a marketing year low for exports last week, and then two days this week of hitting new contract lows. Competition from South America and any softening in crush margins will take a further toll.
It was a...
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...
