AgResource Weekly Newsletter, Jul 6
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Soybeans test $13.00 Support and Close Higher: Soybeans marked modest gains after slipping to new lows in early trade on Wednesday. Strength in soybeans and meal developed even as crude oil futures declined. However, the weakness in energies spilled over into the soyoil market, which fell to a seven-month low. Palmoil demand is likely to…
NASS surprised the trade last week by lowering US soybean planted acres by 2.7 Mil acres from the March Prospective Plantings report to 88.3 million acres. This places increased importance on yield as exporters have already booked a record large volume of export sales. CBT soybean prices have declined over the last two weeks, and…
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