China’s buying spree pushes soy complex to new heights

The soy complex extended its momentous run last week, hitting contract highs for futures connected to the 2020/21 marketing year. A combination of bullish factors supported the move: a tightening balance sheet, a surge in Chinese buying, and ongoing reports of troublesome weather in [...]

24.2 MMT of 2020/21 soybean exports already sold

As of Aug. 27, the U.S. had pre-sold 24.2 MMT of new-crop soybeans, beating the previous sales record set in 2013/14 of 23.9 MMT of 2014/15 soybeans. USDA is currently forecasting 2020/21 U.S. soybean exports at 57.8 MMT (2.125 billion bushels), a return to [...]

Weak dollar helping boost commodity prices

This past week’s Fed meeting and comments from Chairman Powell hinted at continued low-interest rates and a dovish stance to help the economy regain its footing in the current COVID-19 environment. Historically low-interest rates have already made an impact on the economy via a [...]

Soybeans affected by rise in U.S.-China tension

Soybean futures lost a little ground amid the rise in tension between the U.S. and China. May 22’s settle for the nearby contract was down over 11 cents from the start of the week. In the export market for the week ending May 14, [...]

Dollar’s rise during stay-at-home orders

Given its spread across borders, the COVID-19 global pandemic could be described as an equalizing force, at least from an economic perspective. Yet, considering its influence on foreign exchange rates, the pandemic’s economic impact has not been shared equally. The U.S. dollar index, a [...]

Dairy prices retreat as coronavirus spreads

As confirmed coronavirus cases and fatalities mount—mostly but not solely within mainland China—dairy prices eased in the most recent Global Dairy Trade auction falling by nearly 5 percent. Travel restrictions and reduced growth forecasts as a result of the virus are curbing future demand [...]

Chinese imports & exports limited by coronavirus

The coronavirus that broke out in Wuhan, the capital of China’s Hubei province, in late January is expected to have lingering impacts for the next several months, if not longer. The number of infected people was approaching 25,000 as of early this week and [...]

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