The Market The May soybean contract trade above $12 several times this week intrasession but could not hold that number at the daily close. Nonetheless, the close Friday at 1198.25/bushel was a 1.2 percent rise for the week. That is 6.1 percent above the February low of 1128.5/bushel. May soyoil climbed an impressive 7 percent to 49.42/pound but May soymeal dropped back 1.96 percent to 334.7/ST. Canola followed other oils and rose 2.4 percent on ICE futures to 630.8/MT. Export sales were lower and pushing the price too high prevents U.S. soybeans from competing with large impending South American crops. It is the large domestic crush that continues to undergird the market.
The slow rise in soybean prices prompted speculators to sh...
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...
