Markets started the Sunday evening session steady to slightly easier. Selling did gain some momentum in the soy complex, and soybean futures eventually traded 6-7 cents lower. The market’s perception is that the extended weather forecasts (11-14 days out) show the possibility of increased precipitation across Argentina and southern Brazil. It’s an early weather market, and that makes for a nervous market. Wheat and corn can’t trade higher without help from soybeans. The December WASDE will be released tomorrow (expectations are discussed in today’s analysis). It’s been so long since USDA issued a bullish report that no one is willing to bet on one tomorrow. Funds started this week still short more than 130,00...
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...
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