THE OPEN July beans: 21 higher July meal: 4.90 higher July soyoil: 180 pts higher July corn: 6 higher July wheat: 7 3/4 higher Prices opened and quickly escalated to the upside. Beans and soyoil quickly post new contract highs. Funds were buying out of the gate on solid technical closes, firm cash, extreme cold temperatures, and technical strength. New contract highs were quickly placed in beans, corn, and soyoil, and it felt like there was some panic buying as prices reached new levels of resistance. SOY
The soy complex traded higher on the day with prices jumping quickly to new contract highs. July beans traded up to new contract highs at $14.71 1/2, with November trading over the...
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...
