BASIC & RECENT MARKET INFO

Tidbits Markets & Premiums: Yesterday was a very disappointing day for grain futures as the sharply higher crude oil could only rally corn, wheat, and beans very modestly. Even though soybean oil settled sharply higher and May bean oil was up 1.86¢ a pound, May soybeans were down 5¢. May soybean meal was lower, but only $3 a ton. For a bushel of beans yesterday, the value of the 11½ pounds of oil per bushel increased 21.35¢ and the 48 pounds of meal per bushel decreased by 7.

Highlights The CBOT ag markets will reopen this evening at their normal times. Crude oil is trading normal hours today. President Trump announced Sunday the 50% tariff on everything from the EU was delayed from 1 June until 9 July as the EU asked for more time to prepare a comprehensive economic and trade proposal for a long term trade deal with the United States. Corn and beans were lower Friday supposedly because Trump announced the 50% tariff on everything from the EU beg

Highlights OPEC+ on Thursday has postponed the revival of its oil production by three months, now set to begin in April 2025 instead of January 2025, marking the third such delay amid struggling crude prices and a potential surplus. The planned initial increase of 180,000 barrels per day will now be part of a slower unwinding of cuts expected to conclude in September 2026. Despite this delay, the UAE is permitted to gradually increase its production by 300,000 barrels per day

Highlights Early Monday news was China may announce ten COVID-19 easing measures as early as Wednesday, after three years of zero-tolerance measures; that news had crude oil, grains, soybeans higher yesterday morning. Just before the price dropped late yesterday morning, the news was released that, effective today, China would cut retail gasoline and diesel prices by about $62.51 per mt to support the economy. China’s crude refineries were ordered to maintain production and f

Highlights