Bean oil rallies to the highest prices in 9 years overnight. May soyoil pushed to a new contract high of $58.25 overnight, following yesterday’s rare limit up close. Midwest cash soyoil basis rose to a new rally high on strong demand from food and ethanol sectors. The overnight high was very near record high prices…
Low volume of overnight trade. Grain futures had a mostly lower evening session, before Malaysian palm oil turned higher after multiple days of correcting in price, turning bean oil higher in the night session by half a dollar which pulled beans back to steady firmer money. Lack of fresh news to stimulate index fund buying…
Cattle On Feed On Feed: 102% vs 101.5% estimate Placed: 98% vs 97.5% estimate Marketed: 98% vs 97.6% estimate Report deemed neutral as it’s very close to previous estimates.
Row crop futures find overnight support. Row crop futures found stability overnight while wheat futures stayed mixed, as stability from yesterday’s large decline came from strong cash markets and end-user pricing. The bulk of yesterday’s selling was tied to fears that the US-China rhetoric at their trade meeting in Anchorage, Alaska, was becoming adversarial. There…
Markets struggling with liquidation and lack of friendly input. A lower night session across the board with only corn trying to find stability, as export sales were strong over the past week for corn in the above expectations of 38.8 Mil Bu fro crop. Weakness in soybeans and wheat is occurring now with the lack…