The Market In this holiday shortened trading week, November soybeans are up 23.5 cents (2.35 percent). The rally in prices has caused deliveries to increase against December futures. Futures have been rising but basis levels are weak, raising doubts about real demand.
December soymeal is up $13.50 (4.3 percent) but is now up against resistance levels.
December soyoil was up today but for the week thus far is down 0.84 cents (-4.3 percent). November canola are down 4.3 percent.
USDA’s Crop Progress report showed a larger than expected drop in quality. There was a 2-point drop in the share of soybeans rated good in quality, though the crop still gets high marks.
The USDA weekly Export Sales report for the...
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...
