While estimated biodiesel plant margins held under both last year and the 5 year average through the month of August, the US biodiesel industry maintained production steady from July and at a record level for the month of August. Production for the month amounted to 149 million gallons, up 7 million (5%) from a year…
Tuesday was another quiet day of trading across the soy complex, that left January soybeans a tick over unchanged. Support at the 200 day moving average continues to hold, though the markets are still struggling to find direction. It’s still early in the year, however early season soybean crush rates are have so…
December hogs gapped higher at Tuesday’s open and continued to rally on to sharply higher gains, with all months including December marking new contract highs. Even after Tuesday’s $2.80 move higher, December hogs were still more than $1 under the CME’s lean hog index. The index on Tuesday was up $.15 at $69.09, but projected…
Winter wheat futures fell to new contract lows as the market continues to reel from recent tender results – which included aggressive offers – and as currencies in Russia, Australia and Canada all weakened. The Canadian and Australian dollars rest at multi-week lows, and overall steep competition for exports is ongoing. The trade views current…
Corn futures ended lower with December again flirting with major chart-based support. The contract has struggled at resistance levels, and is expected to stay bound to a rather narrow trading range. Weekly US ethanol production (due Wed AM) should be strong, but the USDA’s November WASDE is likely to feature another boost in 2017 US…
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