THE OPEN July beans: 2 lower July meal: 3.00 lower July soyoil: 33 higher July corn: 3 lower July wheat: 3 lower The markets were wobbly overnight but quickly found their footings to climb to new contract highs once again. Oilshare was much higher as May contracts finally traded to 60c. Stronger bean prices accelerated the upside in beans, with corn prices higher as well. SOY
The key feature in the soy complex was that of a sharp rally in soyoil futures. Meal prices tried to follow, but buy soyoi/sell meal trade was the fan-favorite of the day. China continues to hunt for alternative feeds which leaves meal in a more vulnerable situation, while tight vegoil supplies...
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...
