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Latest From John Buckley
Mixed messages from the soy complex have influenced a more erratic trend in rapeseed futures recently although signs were emerging of a potentially firmer trend this week.
China recently seems to have been making good on its promises to take more palm oil from Malaysia, agreeing to a barter-type deal that may involve about 200,000 tonnes in return for supplying construction services.
A few dry days in much of the Central US were expected to have farmers in a frantic dash to catch up on rain-delayed soy sowings, possibly paving the way for a larger crop than the 113 million tonnes the USDA recently pencilled in.
Optimum planting dates have passed for a significant portion of the 2019 US corn crop, along with deadlines for full ‘prevent-plant’ insurance cover.
The wheat market’s recent steep rally came to an abrupt halt early this week as improving US weather forecasts and better than expected crop ratings sparked fund selling across the board of crop futures.
Raw sugar futures have spent nearly a month trying to break back through the 12¢/lb ‘ceiling’ around which producer selling was thought likely to stymie advances.