The Market The soy complex lost value this week but the overall trend remains up. In fact, November soybeans almost moved over $14/bushel early this week. The contract remains well above major support at 1347/bushel. Demand is strong at the same time intense dry heat is threatening to push average yield below 50 bushels/acre, which would net the smallest soybean crop in four years. For the week, November soybeans lost 18.5 cents or 1.3 percent; December soymeal gave up $15.40 or 3.7 percent; and December soyoil lost a fraction (0.11 percent).
Soybean speculators increased their net long position by 109 percent to 53,949 contracts. Soyoil being used to make diesel fuel remains a key driver. The U.S. Department of Energy reported t...
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...
