Soybeans had quite a trading range today, triggered by more bullish USDA stocks and acreage numbers than expected, and there was no stopping wheat in any of the three markets. General Comments There were quite a few things happening in today’s markets:
It was the last day of the month. USDA released its acreage update and quarterly stocks report. It was the last trading day before the weekend and the 4th of July holiday week in the U.S. Markets will be open from 8 PM (EDT) Sunday night until 1 PM (EDT)Monday. They will then be closed until 9:30 AM (EDT) Wednesday morning. That can be an eternity if the weather forecast stays hot and dry. Today’s weather forecasts looked hotter and drier for the entire western half of the U.S., and t...
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...
