The funds started this week with a record-large short position in wheat, a big short in corn and moderate-to-small short positions in soybeans and soymeal. It was all about weather and funds today, and volume was relatively heavy. General Comments It’s been a very long time since a wheat contract traded up the limit, or any other agricultural contract for that matter. KC July wheat flirted with limit up most of the session. Below are the latest trading limits, which are now variable:
Chicago wheat - 30 cents KC wheat - 30 cents Mpls wheat - 60 cents Corn - 25 cents Soybeans - 70 cents Soymeal - $25/ST Soyoil - 2.5 cents/lb.
Cold temperatures followed by heavy snow across approximately 40 percent of Kansas and eastern Colorado...
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...
