Tridge summary
Soybean futures on the Chicago Mercantile Exchange ended mixed due to mixed market factors, with higher vegetable oil and corn prices being offset by large global supplies and trade tensions between the U.S. and China. Soybean prices were also influenced by rising global vegetable oil prices, but favorable crop weather in South America limited gains. The U.S. balance sheet is expected to see little change ahead of the USDA’s monthly report, and soybean shipments are up from the previous year. Wheat futures saw mixed action, with some markets experiencing slight decreases, and export sales data shows a 33% year-over-year increase in wheat and produce shipments. Argus Media reports that Russia's wheat production in 2025 is expected to remain stable or slightly increase, despite current drought conditions, due to an increase in planting area in Ukraine.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Soybean futures on the Chicago Mercantile Exchange ended mixed on Friday as higher vegetable oil and corn prices supported prices, but the market remained constrained by large global supplies and trade tensions between the U.S. and China, analysts said. CBOT January soybeans settled unchanged at $9.93-3/4 a bushel, down 0.4% for the week. The actively traded contract hit upper-chart resistance on its 20-day moving average. CBOT January soybean meal futures settled down $3.70 at $287.40 a short ton. CBOT January soybean oil futures rose 0.66 cent to 42.97 cents a pound. Soybean prices rose as global vegetable oil prices rose, with canola prices up more than 5% in two days after Canada’s crop forecast was weaker than expected. Favorable crop weather in South America has improved crop prospects in Brazil and Argentina, limiting soybean crop gains. There is expected to be very little change to the U.S. balance sheet ahead of the USDA’s monthly report on Tuesday, with the average ...
Source: Oilworld
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