The Market After hitting a seven-month low, soybeans rebounded this week, gaining 17¼ cents. It was soymeal dragging down the whole complex. There were a few deliveries of soymeal against the May contract and overall the July contract lost $6.30. July Soyoil gained 2.66 cents.
Speculators again cut their net long positions, though just by 37.3 percent, down to 36,874 contracts. Market Factors Russia, Ukraine, Turkey and the UN were discussing extension of the grain corridor agreement today but expectations are low. The EU imposed a ban on imports of sunflower, rapeseed, wheat and maize from Ukraine into five member states on the border until 5 June. Fediol complained that oilseed products are not banned and this wi...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
