Given certain developments regarding soymeal and soyoil in November, some stockpiling in the near term makes sense. Nonetheless, the massive turnover and size of the open interest for both soymeal and soyoil futures contracts on the Dalian Commodity Exchange dwarf the actual physical market in China.
Oilseeds November Soymeal Inventories Revised Revised survey data related to China’s major soybean crushing facilities shows capacity utilization rates were lower than previously reported. It indicates crushers have generally been operating at 50 percent or less utilization in recent weeks. These low rates have been successful in propping up both the cash and futures markets for soymeal during November. The revised data also...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
