The market continues to look for a floor following Monday’s WASDE report, with soybeans and soyoil finding terra firma on a bullish NOPA report that showed crush at a near-record level. Volume was generally subdued but skyrocketed in soyoil as traders sought to get a piece of the rising action. While much of the rest of the board is still reeling from Monday’s bearish WASDE report, March soyoil has closed higher in six of the past seven sessions and may not be done. There were lots of new fundamental inputs on the day, and while most contracts closed lower overnight and opened that way this morning, the bulls largely could not hold and gave way to mostly minimal losses. Export demand appears to be responding to the r...
Accountability and a comprehensive approach to export programming
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