EPA announces RVO mandates. The grain trade overnight worked lower, with soybeans dropping on the collapse of soybean oil as EPA did make their announcement yesterday afternoon for RVO mandates through 2025. The EPA maintained 2023 RVOs as expected, slightly higher than the current year, but the 2024 and 2025 RVOs were raised slightly more than…
Soybeans press new November highs. The grain trade is higher to sharply higher today, led mainly by the soybean market, which is following the crude oil market higher on news that Chinese health officials are softening their approach towards the Omicron variant, which is causing fewer deaths and less severe sicknesses than the original Covid…
A mixed start this morning with no Turn-around Tuesday yet. The grain trade is mixed this morning as wheat continues its weak stance into first notice day Wednesday. At the same time, soybeans furthered their advance overnight following the crude oil rally and concerning heat that builds in early December for Argentina. Malaysian palm oil…
A lower grain trade greets the start of the week. Grain futures opened lower overnight and traded sharply lower as crude oil tumbled to fresh 2022 lows on growing Covid lockdowns in China, with soybeans also finding selling pressure from Argentina announcing (rumored late last week) their improved conversion of pesos for US dollars through…
World grain trade suggests a mixed restart. Grain futures are anticipated to have a mixed start this morning. They could be a few pennies higher or lower, as China’s daily Covid infections are broadening lockdowns while a slow soybean seeding pace continues in Argentina. French milling wheat was sharply lower on Thursday but recovered all its…
Grains struggle ahead of last trading trading day before Thanksgiving. Grain futures put in a directionless night, crossing unchanged several times while ending mostly softer at the end of the morning session. The export sales data that we would normally see Thursday morning is delayed until Friday, and the December options expire on Friday’s close….
Grains recover on Turn-around Tuesday Turn-around Tuesday is in full force today, with metals and energies in recovery mode, supporting grain, after yesterday’s climactic false rumor of a 500,000 BPD increase in oil from OPEC was rejected midday by an OPEC minister, creating a dramatic decline and reversal on Monday that had seen grains plummet…
Grains soften at the start of Thanksgiving week. Grain futures started the week lower on Sunday night, with the dollar firmer, equities and energies lower on rising Covid affections in China and more lockdowns. Also, for the second week in a row, better-than-expected rain fell across Argentina, with rain totals ranging from .5-2.50”. The areas…
Cattle On Feed On Feed: 98% vs 98.3% estimate Placed: 94% vs 96.4% estimate Marketed: 101% vs 100.8% estimate Cattle on Feed report is slightly friendly on the placement data compared to pre-report estimates. Data would be considered slightly friendly for 2023 cattle contracts.
