Soybeans closed 10-11 cents higher but were well under the overnight highs at Monday’s close. CBOT brokers noted massive farm selling on the rally, while funds were estimated buyers of around 11,000 contracts of soybeans. Surprisingly, the combined soy product value gained on soybeans, and crush spreads rose 3-4 cents/bu. Weekly US export inspections…
The November Biodiesel Production report that was released Friday. The data showed a slight down tick in B100 production during the month of September. The EIA reported that there were 98 biodiesel plants online during the month – 4 more than in August and 1 less than a year ago. TX, MO, IL, and CA…
The weekend political news had hog futures sharply higher at the open – which quickly evaporated. Feb hogs were in the red within the 1st hour, and technical selling had the market in a wide $3.925 range through the day. Support was uncovered just above the 50-day moving average, and a late day rally pared…
CBOT corn closed higher amid the weekend news of a US/China trade truce. Soybeans surged on the hope for immediate Chinese demand while the grains followed. Funds booked an estimated 9,000 contracts of corn futures on the rally to cover prior shorts. Brazil announced that it has exported nearly 4.0 MMTs of corn during November…
US wheat futures rallied along with a host of ag markets following a relatively positive outcome from US-China talks at the weekend’s G20 meeting. It was as much of a macro rally as anything. Quantities of future Chinese purchases have yet to be quantified, and until US trade policy changes (current 10% tariffs are eliminated),…
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