Retail Business
U.S. soy processors, fresh off their busiest year on record, have booked soybean purchases well beyond their normal few weeks of supply due to soaring export demand, rising prices and fears of soy shortages.
President Joe Biden’s trade team is coming together, and it looks to be stacked with individuals who were key in crafting the U.S. Mexico Canada Agreement (USMCA).
After corn and soybean prices soared last week once the USDA’s WASDE report was released, grains and oilseeds seem to have taken a different path this week. So, is the grain rally over? Bob Utterback weighs in.
In summary, the lawsuit alleges crop input manufacturers, large wholesalers and retailers have created an unfair market for farmers.
USDA revealed this week the soybean stocks to use scenario is record tight for this time of year. Analysts explain why that could create even higher prices in the months ahead.
USDA announced the release of $2.3 billion in leftover funds from the first and second rounds of the Coronavirus Food Aid Program (CFAP) on Friday, most of it to benefit contract hog and poultry producers.
With only days left in office, the renewable fuels industry expects the current EPA to announce a portion of small refinery exemptions for 2019. However, Growth Energy says it’s doing everything it can to stop it.
Grain markets are driven by lower supplies and higher demand.
Analysts say the trade expected a bullish USDA report. With minimal changes, traders sold the market and commodity prices dropped.