Soybean Oil Commodity Markets, Prices & Futures
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Latest News From Soybean Markets
The paper agreement to restart Ukrainian grain exports via the Black Sea is running up against the reality of how difficult and risky the pact will be to carry out.
Grains open mostly higher except wheat as soybean meal hits contract highs again. Markets are trading weather and awaiting the Fed announcement. Livestock are leaning higher except nearby live cattle.
Increased demand from Europe amid the war in Ukraine drove a rise in exports to an average of 11.2 billion cubic feet per day, a 12% jump compared to the second half of 2021.
IMF now expects the world economy to grow 3.2% in 2022 before slowing to a 2.9% GDP rate in 2023 — marking a downgrade of 0.4 and 0.7 percentage points, respectively, from its April forecasts.
Soybeans and soybean meal lead the rally in the grains on Tuesday, while livestock futures slide lower.
Grains continue strong at midday pushed by weather, with livestock setting back on higher feed costs.
Ukrainian farmers had been watching the talks to allow resumption of grain exports the last few weeks with great hope, because it’s their only lifeline to be able to plant a new crop this fall.
Grains continue higher putting in weather premium, livestock mixed to lower early on Tuesday.
Brazilian and Chinese officials are re-discussing a protocol aimed at allowing Brazilian corn to be shipped to China sooner than initially intended, according to Brazil’s ag minister.
Grains rebounded Monday putting in war and weather premium. Cattle worked in the USDA numbers from Friday, while hogs saw profit taking.