The Market The January soybean contract managed to end the week higher after decent declines but settling at 1315.75/bushel still leaves it below the 100-day moving average of 1337/bushel. A key determinant is whether central-northern Brazil turns back wetter for the last half of December and January. Notably, with U.S. soybean ending stocks forecast at their lowest in eight years, prices are currently above $13/bushel for the remainder of the marketing year. For the week, January soymeal gained 90 cents and is valued at 405.6/ST, and January soyoil lost 0.21 cents and settled at 49.99/pound.
Speculators cut their net long position in soybeans by nearly 60 percent to 2,538 contracts. USDA’s weekly Export Sales report showed that...
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...
