THE OPEN July beans: 11 higher July meal: stray July soyoil: 140 pts higher July corn: 1 lower July wheat: 2 3/4 higher Big swings continue with the morning features of higher oilshare, higher beans, and lower grains led by corn. July open interest continues to come out of the market with the official roll starting on the 6th. Spreads are weaker as the bean basis is lower and new buying comes into new crop contracts. SOY
The major feature of the morning was that of higher oilshare with traders continuing to buy soyoil/sell meal on stories that back both. The biofuels story continues to attract soyoil buyers while the meal basis continues to weaken. July/Dec meal works into a ca...
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...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
