Last week’s landed price of imported soybeans dropped $14/MT to $387/MT even as the yuan fell slightly against the U.S. dollar. That lower cost, however, was offset by a development that brought down wholesale prices.
Oilseeds Soymeal Inventories Finally Retreat As expected, several major soybean crushers have suspended operations in recent weeks in the face of flagging prices for soymeal and soyoil. Even with this cutback, utilization rates have remained fairly high, which has pushed prices further downward. Low prices and the suspension of operations resulted in a significant drop in China’s estimated soymeal inventories through mid-June. The nationwide total stood at 1,119,100 MT as of 16 June, a decrease of 285,...
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...
