Markets crashed last Friday when the fund buying dried up, so the sharply higher trade this morning caught the market by surprise. What seems to be clear is that the serious money is no longer super bearish.Markets crashed last Friday when the fund buying dried up. Improved weather forecasts for Argentina and Brazil brought some additional follow-through selling last night, but the funds regrouped and were buying soybeans and corn again in style when this morning’s session opened. Last week the funds reduced their net short position in corn by about 50 percent. If the current buying pace continues, they will shift to net long soon. They continued to sell more wheat and expand their net short position in that commodity as well as increase th...
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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