The USDA’s Economic Research Service offered the latest updates on estimates to US 4th quarter per capita red meat supplies last week. The USDA estimated per capita beef disappearance for the quarter at 14.9 Lbs, which was unchanged from the March estimate, but a 4% increase over last year, the 3rd consecutive year over year increase,…
Choppy and quieter was the CBOT soy trade through Tuesday, that left soybean and meal prices just above unchanged, while soyoil was barely weaker. Funds bought 3,500 soybean and 2,000 soymeal contracts, and sold 1,000 contracts in soyoil. The USDA announced soybean sales to Argentina totaling 60,000 MTs of old crop and 70,000 MTs…
June hogs were weaker at the open on Tuesday and selling continued into late in the day, leaving June under $75 and December just over $60. The cash market on the other hand continues to build on last week’s gains. The CME’s lean index rose $1.08 on Tuesday to $57.88, and is estimated increase another…
Like most ag markets, corn rebounded well off session lows, and so neither the bears nor the bulls can find much leverage – and likely won’t until the growing season really begins this summer. Planting progress will accelerate very quickly in the next 10 days, even across the far Northern Plains, but countering this is…
In this week’s newsletter we take a look at combined US & South American soybean supply & demand – and what it means for soybeans’ near term price direction.
