The Market Soybeans had been rebounding from last Friday’s new contract low but news from the Pro Farmer crop tour of seeing record high pod counts caused a 20-cent plunge today in the November contract. Not only has the weather been sublime but pressure from pests and weeds are reportedly minimal. This despite four straight days of flash sales to China and over all new crop sales reflecting the benefits of being the lowest priced world supplier. Technically, November soybeans are still trading higher for the week but that is unlikely to last under the prospect of a record crop.
Both export and domestic crush demand are strong with crush margins estimated at between $2.40 and $2.60/bushel. Trading volume in soymeal and soyoil is l...
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...