Soymeal Prices on the Rise Demand for soymeal and soyoil is robust, but the soybean supply is limited and slow. The government of India’s (GOI’s) first advance estimates in September 2017 put soybean production at 12.217 MMT. However, the trade’s estimate was much lower at 8.5-9.2 MMT. With farmers gradually releasing their stocks in the market, prices have tended to move up as they anticipated. This trend is reflected in the soymeal prices, which also continue to rise. Meanwhile, soyoil prices in the market have remained stable since imposition of the vegoil duty, and they are likely to remain so.
The trade also expects soybean prices to remain steady at current levels as stocks are sufficient and may not crea...
What You Need to Know Today: Oil prices surged today following reports of tanker attacks off the coast of Saudi Arabia by Houthi rebels and renewed U.S. threats to escalate military strikes against Iran, heightening concerns over potential disruptions to Middle East energy supplies. Brent crud...
Grains posted strong gains today, putting the bulls firmly in the driver’s seat. There was no shortage of fuel for the move, with three W’s driving the rally: weather, war and worry. Weather: Cooler temperatures are temporarily easing stress across the Northern Plains and Midwest, b...
