Brazilian soybean exports as counted by the Secretary of Foreign Trade (SECEX), were reported at 9.2 MMT for the month of June, or 19% more than a year ago. While the government data shows significant increase over last year, the vessel lineup data shows June shipments were actually smaller at 7.9 MMTs. The government data…
: CBOT soybeans were higher at the open and finished up 11-14 cents at Wednesday’s close. A midday newswire report that indicated the EPA’s 2018 biofuel proposal would slightly lower the the Advanced Biofuel Standard briefly sent soyoil/soybeans lower. However, November soybeans caught support on the break back at the 200 day moving average, and…
** Volatile and sharply mixed has been the CBOT with the grains trading either side of unchanged, while soy futures hold in the green. The AM volume of trade has been sizable as market participant’s debate Central US weather forecasts. Weather forecasters are non-committal the long range Central US weather pattern beyond the next…
Bottom Line: Soymeal prices in China rose more than 5% this past week but that wasn’t enough to stop crushing margins from slipping after recovering from a 3-year low set five weeks ago. For the month of June, vessel lineup data indicates that shipments from the major exporters to China were 8.01 MMT. That…
** AgResource Daily Cattle Analysis: Cattle futures started the week lower, in lighter volume trade on Monday and steady/weaker outlook is offered for early trade this morning. An early morning rally in August had resistance above $117, while intraday support developed under $115.50. The CME reported Monday’s trading volume was down 25% from Friday. …
