The Market The oilseeds market remains bearish as South American crops progress more favorably and Chicago futures face a large American crop that is over-priced. There was a bounce-back on Friday after soybeans were oversold based on USDA’s Thursday Outlook report (see below); palm oil fell 2 percent and dragged other vegetable oils along for the fall, and the March soymeal contract hit a new contract low this week of 339/ST.
USDA’s annual Outlook Conference revealed some tweaks to the agency’s view of the upcoming crop season. Some of the standout changes include an increase in beginning stocks, higher production, a huge jump in carryover and thus stocks-to-use, and the requisite drop in prices. While USDA fore...
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...
