Sep-22 soybean futures were volatile last week but closed at $14.8875 per bushel. Dec-22 closed at $14.04 per bushel.
S&D and fundamental factors
NOPA soybean crush was 170.22 million bushels, up 9.7 percent YOY and 3.4 percent from the month prior. Oil stocks were 1.684 billion pounds, below analyst expectations.
Weather, macro indicators, and news
Weather is arguably the most consistent market driver currently. Although weather in the U.S. has moderated a bit in the last week, dry conditions (and full drought) in Europe and China still threaten corn and oilseed yields. Another consequence of the weather is high energy usage in a strong energy market, which could ultimately pressure economic activity.
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