General Comments Grains and the soy complex opened mixed in overnight trading, but the complex soon came under pressure from slumping soymeal prices on China's Dalian Exchange. Soymeal has been a hot commodity in Dalian trade, and it was due or overdue for a profit-taking break, which apparently is what occurred since both Dalian soybeans and soyoil prices were higher. Nevertheless, CME soybeans on Globex chose to follow Dalian soybeans overnight.The soy complex had something else to chew on when USDA announced that 300,000 MT of soybeans destined for China had been cancelled along with a cancellation of 120,000 MT of soybeans sold to unknown destinations. At the same time, USDA announced a sale of 110,000 MT of soybeans to unknown. It a...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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