Soybean and corn futures traded slightly higher again overnight, while winter wheat contracts stayed close to unchanged. Trading volume was barely average. However, prices across the board turned red early in the day session and stayed that way through the close. Soybean prices ended down more than 5 cents, soymeal was down around a dollar and soyoil fell 24-33 points. Corn was down about a penny, but wheat posted sharper losses following Stats Canada’s bearish final 2017 production report. Chicago wheat dropped 7.5 cents, KC wheat was down 8 cents, and MGEX spring wheat lost 12.5 cents. Markets reacted to the bearish Stats Canada numbers as well as weather model hints of rain over central Argentina about 10 days from now.
The bear...
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...
