The Market The market is at the seasonal turning point. Brazilian soybean basis has turned negative relative to Chicago. March soymeal hit a contract high this week of $508.20/ST, the highest for the spot month contract since 2014. All 2022/23 soymeal contracts hit record highs, then reversed. The surge was prompted by heavy fund buying but it also signals the end of the bull run as Brazil takes over the export market. Brazilian soybean exports are up 362 percent in early February. The result for the week – March soybeans fell 0.8 percent, meal went down 1.8 percent, but soyoil was pulled higher by other oils and gained 2.5 percent.
It isn’t all singing the blues. The IGC lowered its estimate of global soybean production by...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
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...
