Futures activity

  • The meal piece of the soy complex showed the greatest strength last week, with Jul-22 meal futures closing the week up $23 per short ton at $438.10. Conversely, soybean oil futures came under pressure, with the Jul-22 contract closing at $0.7379 per pound, down almost $0.06 per pound.

 S&D and fundamental factors

  • U.S. soybeans were 88 percent planted as of the week ending Jun. 12, catching up with the five-year average. Emergence is at 70 percent nationally, but North Dakota is lagging last year’s pace considerably at 24 percent vs. 80 percent a year ago. South Dakota is also behind, at 55 percent emerged vs. 93 percent last year.

Weather, macro indicators, and news

  • Argentina will increase its biodiesel blend from 5 percent to 12 percent for 60 days. Beyond that, the blend will be fixed at 7.5 percent.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.