Last week’s landed price of imported soybeans dropped $14/MT to $387/MT even as the yuan fell slightly against the U.S. dollar. That lower cost, however, was offset by a development that brought down wholesale prices.
Oilseeds Soymeal Inventories Finally Retreat As expected, several major soybean crushers have suspended operations in recent weeks in the face of flagging prices for soymeal and soyoil. Even with this cutback, utilization rates have remained fairly high, which has pushed prices further downward. Low prices and the suspension of operations resulted in a significant drop in China’s estimated soymeal inventories through mid-June. The nationwide total stood at 1,119,100 MT as of 16 June, a decrease of 285,...
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...
