Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures market sharply in the last 10 days.
Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures market sharply in the last 10 days. That weakness, however, has yet to break the old crop/new crop soybean spread. In fact, the August/November spread pushed back to close at new highs this week. Domestic U.S. soybean basis is getting stronger, and there were no soybean or soymeal deliveries against the August contract today. Additionally, the pace of U.S. new crop soybean export sales has made a noticeable...
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...
