Soybean futures gapped upward in the Sunday evening session, trading 10-12 cents higher most of the night. The March contract traded right to $10.20, which is considered major technical resistance. The driver is weather across southern Brazil and Argentina. It continues to be dry there with little apparent relief in sight through the next two weeks (see eight-14 day precipitation map below).
This weather pattern has once again resurrected talk about a La Nina. Some chatter focuses on the potential for one to develop, and others say that a La Nina is already underway with the effects now just depending on the degree or strength. Such a weather event occurs when the sea surface temperatures (SSTs) between Australia and Peru turn cooler tha...
What You Need to Know Today: U.S. Treasury Secretary Bessent said the U.S. and Iran could “today or tomorrow” reach a deal to reopen the Strait of Hormuz. Despite the Secretary’s claims, an attack on a vessel off the Omani coast suggests plenty of risk remains in forming a lo...
Beef packer margins slipped modestly for the first time in four weeks, declining $15/head to -$78 as fed cattle prices firmed while boxed beef values continued to weaken. The Choice cutout eased another $2.63/cwt to $364.69, while dressed cattle prices fell only $2.76/cwt to $362.25/cwt, limiti...
Key Takeaways: Offal represents an important segment of global meat trade by adding value to underutilized portions of livestock carcasses and improving overall resource efficiency. Strong export demand for products such as pork variety meats and chicken feet allows processors to maximize carc...
