Soybeans were lower at the morning open on Tuesday, and continued to slide in technical trade. Neither new crop export sales announcements nor a better than expected July soybean soybean crush rate could turn the trend. CBOT values were off 11-15 cents at the close. Commodity fund traders were estimated sellers of; 10,000 soybean, 3,000…
NOPA reported a July soybean crush rate of 144.7 Mil, which was about 1 Mil Bu over expectations and 1 million more than a year ago. The spot soybean crush spread averaged $.87 through July versus $.77 a year ago and the 5 year average of $.65, and spread has remained strong into August. Historically,…
** CBOT soybean and wheat futures have posted new lows with December corn back testing key support at $3.70 while November soybeans targets $9.25. US wheat prices continue to decline on fund selling while world cash wheat markets hold stout. End users are scaling down into longer term purchases on the CBOT break with speculative…
Bottom Line: China’s crushing margins are up sharply this week thanks to lower CME soybean futures and a stronger Yuan. The “spot” crush margin jumped 114 Yuan and is now is profitable for the first time since late February. The “forward” margin rose 103 Yuan/MT. However, it is still negative but it is well…
After 40 months of warm phase Pacific decadal oscillation neutral phase emerges.
