Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures market sharply in the last 10 days.
Record world soybean supplies, the apparent extended shipping of South American soybeans and pretty good U.S. weather have broken the soybean futures market sharply in the last 10 days. That weakness, however, has yet to break the old crop/new crop soybean spread. In fact, the August/November spread pushed back to close at new highs this week. Domestic U.S. soybean basis is getting stronger, and there were no soybean or soymeal deliveries against the August contract today. Additionally, the pace of U.S. new crop soybean export sales has made a noticeable...
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...
