By Jon Scheve, Superior Feed Ingredients, LLC
The export market heated up this week as China bought U.S. beans for August/September shipment, but then the President suggested the trade deal could be secondary to China, who might be responsible for the coronavirus. Could this mean that the trade war is not yet behind us?
As stay at home orders have started to ease, gasoline usage has increased. With that increase, ethanol stocks have dropped from their record highs too. While still far from normal, both are moving in the right direction.
U.S. beans continue to be crushed at high volume, which is a positive. However, the Brazilian Real’s currency value continues to decrease relative to the U.S. dollar, hampering upside in the bean market here in the U.S.
Previous trade detail: Dec. 27, 2019
I sold 25% of my 2019 beans in the July ’20 contract at $9.75 while the March soybeans were trading at $9.50 on the same day.… Continue readingRead More »