The Market Despite worries about used cooking oil imports, slow exports, and a drop in the NOPA crush, July soybeans closed the week up 9 cents (0.73 percent) at 1228/bushel. Traders must have Brazilian flooding on their minds. However, the November contract lost 2.5 cents (-0.18 percent) to end at 1203.25/bushel. July soymeal gave up 3.10 (-0.83 percent) and is valued at 368.8/ST. July soyoil goes into the weekend at 45.27/pound, a gain of 0.83 cents (1.8 percent). Palm oil saw a 2.26 percent gain on the week and is now worth 3,890 ringgits ($830.31)/MT. July canola dropped 0.18 percent to 662.4/MT.
Funds begin Thursday trade holding an estimated short in soybeans of just 51,000 contracts, along with a bean oil 66,000-contract short,...
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...
