Soy Futures Fall on Speculative Liquidation: Soy futures were lower overnight and extended their losses throughout Wednesday. Funds are liquidating market risk across a host of financial markets ahead of next week’s US elections. Soybeans led Wednesday’s decline, followed by meal. Soyoil followed, but to a lesser extent as nearby Malaysian palm oil futures soared…
Soybeans/Meal Mark New Highs and Settle Lower: Soybean and meal futures traded to new contract highs and closed lower on Tuesday. The push to new highs found profit-taking as the Brazilian forecast added rain and new China was absent. The Brazilian state of Parana reported that planting progress jumped 29% last week to 61% complete…
Soy Futures Close Higher on Rising Cash Bids: Soyoil led the soy complex higher on Monday as Malaysian palm oil soared 5% overnight. But even following Monday’s CBOT rally, spot soybean oil is at a rare discount to spot palm oil. Soybean meal was right behind oil and marked a new contract high close, as…
Soybean and Product Markets Rally to End the Week: CBOT soy futures closed higher on Friday, with Nov soybeans marking a new high close on option expiration buying in futures. Dec soybean oil rallied to score a 2-month high close with the next resistance sitting at $35 cents. Soybean basis along the River systems has…
Soybean and Meal Futures Retreat from Contract Highs: Soybean meal led an early rally at the CBOT as the market responded to an explosion at a Bunge Argentine crush facility. The meal rally lifted November soybeans to fresh highs, which was met with fund profit-taking and increased farm selling. This pared gains in the last…
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