THE OPEN July beans: 9 lower Jul meal: .20 lower Jly soyoil: 93 lower July corn: 12 lower July wheat: 16 lower The markets started the day lower but quickly found end-users, short-covering, and bargain hunters looking to own this pullback. Spreads were extremely firm with new highs. Oilshare found early stability and upside follow-through after the open. Longs were there to defend values at their open. The move higher from lower is typical of solid bull markets, which often features good comeback rallies after a significant correction. SOY
The main feature in the soy complex was that of higher oilshare, even though meal prices rebounded from the open as soyoil prices adjusted.&...
Beef packer margins deteriorated to -$261/head last week, down $19 from the prior week as weaker beef values (especially the Choice cutout) were offset by firmer fed cattle prices, which further compressed packer profits. The cutout slipped to $387/cwt while fed cattle prices held above $259/cw...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
