Although China’s yuan continued to gain ground on the U.S. dollar, last week’s landed price of imported soybeans rose $5/MT to $402/MT. The average producer prices for both soymeal and soyoil also staged modest recoveries, but what is the outlook?
Oilseeds Soymeal Inventories End May with Another Surge China’s estimated soymeal inventory reached 1,385,200 MT as of 2 June, a week-on-week increase of 82,300 MT (+6.2 percent) and 676,400 MT higher (+112.7 percent) than the total for the same week in 2016. In the past month alone, it rose by more than 474,000 MT (+52.05 percent). The estimated soymeal inventories grew across all regions with the largest weekly gains in the North and East, which saw increases of 21...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
