Soybean futures contracts continue to show an enormous amount of volatility. After rallying by nearly $1 per bushel on the last week of June’s surprise acreage reduction, Aug-23 soybeans closed at $14.27 per bushel, down by about 40 cents per bushel over the week. Nov-23 [...]
Dec-23 corn futures continued to move higher last week to $6.28 per bushel (a five-month high) as of close Jun. 21 before falling back to $5.88 per bushel as of close Jun. 23. Spot Jul-23 futures closed at $6.30 per bushel Jun. 23 but [...]
Spot soybean futures rose 30 cents last week. New-crop soybean futures continued to hover near two-year lows. Soybean oil prices rose about 1.5 cents per pound last week. Argentina’s low soybean crop projections are falling further. Abandoned acres could be historically high, above 5 million [...]
The reversal of La Niña is part of the ENSO (El Niño Southern Oscillation) weather phenomenon, which drives a shift in global weather patterns that can bring drought or atypically heavy rains depending on location. Colorado State University (CSU) meteorologists issued their preliminary forecast [...]
Warmer weather across the country is ushering in spring-like conditions and inventories of natural gas are again building. This year’s turn came earlier than last year’s, with stocks in underground storage rising 25 billion cubic feet (Bcf) in the first week of April. The [...]
Soybean oil prices continued to drift lower over last week, breaking below 50 cents per pound on Q4 2023 and 2024 futures for the first time in nearly two years. Since late November, spot soybean oil prices have fallen 25 cents per pound. Some [...]
May-23 soybean futures closed at a high last week while Nov-23 soybean futures closed lower. May-23 soybean oil was down by less than 1 cent for the week. Brazil is said to have already sold 66 MMT of their record soybean harvest, the main [...]
Corn futures could not sustain their recent rally and began trickling lower last Tuesday. Corn export sales continue to trend higher, with 49.1 million bushels in new sales for 2022/23 at the start of April. Despite the uptick, total sales booked are still down [...]
