CBOT soybean futures were unable to sustain early gains with futures declining to fresh lows at the close. The lower close sets a bearish technical outlook for next week. Funds ended as net sellers of 3,100 contracts on the day. Threatened tariffs against Mexican goods into the US by President Trump (continued flow of illegal…
** General Midday Market Comment: The macroeconomic undertow of a potential expanding trade war and diminished US trade is impacting a host of financial markets. The Chinese see the new US/Mexican tariff skirmish as the US bullying another country with their “American First” position. The US/China trade war is worsening with Chinese retaliatory tariffs to…
Summary: Next week ’s soybean export inspections are expected to be 435,000 MT (16.0 Mil Bu). If this is correct, that would be down 18% from the previous week. This week’s ship lineup is 428,000 MT. That is down 26% from last week, and it is 38% smaller than a year ago. A month ago saw the smallest lineup so far this season. There were 35 vessels…
** AgResource Daily Cattle Analysis: Cattle futures closed sharply lower on Thursday and additional pressure is expected this AM amid US President Trump’s threat on Mexico of a 5% tariff on all imported products starting in June 10th (if they do not slow/halt the flow of illegal immigrants across the southern US border.) Funds continue…
** AgResource Farm Marketing Advice for Friday: 1/ Corn Producers: Sell 20% of the estimated 2020 corn crop at $4.23. This would price 60% of the anticipated 2020 corn crop. 2/ Corn Producers: Sell 20% of the 2021 corn crop at $4.24 and 20% at $4.29 basis Dec 2021 corn futures. This would price…
