CBOT futures are higher at midday on the JCI import estimates of US soybeans and grains overnight. JCI showed how China could reach $41 Bil in US purchases annually with the import of 45 MMTs of soybeans, 8 MMTs of corn and sorghum (each), and 5 MMTs of wheat (plus some ag odds/ends). The industry…
Summary: This week, the Congress passed a spending bill that included a $1 gal biodiesel tax credit. Partially as a consequence of this legislation, nearby soyoil futures hit a two-year high this week. However, much of the strength in soyoil is due to higher palm oil prices. Palm oil futures prices are approaching a three-year…
A warm outlook for the medium-range but January looks colder.
The historic heat should ease off later this month.
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