South American weather improvement hung over the market all week, and though December's WASDE report reflected a dent imposed on Brazil's soybean crop by drought, USDA still sees more Brazilian soybeans than does its Brazilian counterpart. However, it was not taking down global soybean stocks as much as expected that solidified this week as a loss. January soybeans lost 21 cents, January meal gave up $8, and January soyoil dropped 1.25 cents.
Malaysian palm oil futures closed higher today, snapping a five-session losing streak as other vegetable oils saw some gains. Palm oil prices are at their lowest in a month. USDA’s weekly Export Sales report showed continued large commitments to take soybeans.
USDA’s soybean ex...
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...
