THE OPEN May beans: 6 1/2 higher May meal .80 lower May soyoil: 85 higher May corn: 2 higher May weather: 5 higher The markets opened as called with the soy complex gaining on grains as the ratio correction further. Since the April report, corn has gained on beans, which has resulted in a ratio that is too low for beans considering the 120 mln bu carryout. Oil is fueled by higher crude, palm, and energies, while meal sees short-covering and a technical bounce as well. SOY
The soy complex traded in a very technical day manner building on gains from the start of the week. Though crush values were lower than expected, the pace of crush remains good trending higher on the back of firm so...
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...
