Soybean Meal Commodity Markets, Prices & Futures
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Latest News From Soybean Meal
House Ag Democrats are facing internal tension and uncertainty as they struggle to formulate a response to the GOP’s farm bill proposal.
According to analysts at FarmDoc, Brazil could increase its crop area by 35%, adding approximately 70 million acres of cropland.
John Heinberg, Total Farm Marketing says USDA is slow playing it because the last two years they’ve ended up having to raise South American production after making cuts and they don’t want to do that again.
Grains end lower after a disappointing WASDE particularly South American numbers. John Heinberg, Total Farm Marketing, says corn and soybeans did technical damage opening the door for more fund selling.
USDA’s April WASDE report showed larger wheat and soybean ending stocks, but smaller ending stocks for corn. More surprising, still, was the lack of changes to South America’s crop estimates.
In an effort to prevent domestic cattle from being exposed to Bovine Influenza A Virus (BIAV), 17 states have restricted cattle imports from states where the virus has infected dairy cows.
USDA Secretary Tom Vilsack suggests China’s reduced purchases of American agricultural products, particularly corn and soybeans, may be linked to recent actions taken by the U.S.
The law aims to increase reporting requirements and impose harsher penalties for violations related to foreign ownership of agricultural land.
Grains slide after USDA disappoints with U.S. ending stocks, but especially punting on South American production. Jim McCormick, AgMarket.Net, discusses why USDA is so far above Conab and RGE.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are lower digesting BIAV news, while hogs recover, and grains are lower except corn following exports and South American crop estimates.