It was another losing week for soymeal but soyoil will likely be at the top of the financial market’s percentage gainers.
According to the CFTC, managed money slashed its net short in CBOT soyoil in half to 19,198 contracts, but it still wasn’t enough. Soyoil was red hot this week, rising 10.2 percent, as a rumored competition has broken out between biodiesel makers and food makers that weren’t properly covered. That helped pull soybeans higher despite the bearish WASDE report. Soyoil is now pegged as the most expensive vegetable oil on the market. However, this is not its first time at the top. Recall that the same renewable biodiesel dynamic had it trading above 60 cents back in February and it got close to 70...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
