Soybean futures rebounded overnight, buoyed by soy meal demand as dried distillers’ grains have become hard to find.
Commodities open lower, fed may boost rates in June, and Midwest warms up.
Soybean and grain futures fell overnight as the dollar bounces amid hawkish comments by Federal Reserve presidents.
Markets still offer higher cash selling points
Net-long positions in soybeans rose to the highest level since April 2014 last week.
Monsanto is hopeful that EU approval of the soybean variety will come this summer.
Money managers held net-long positions in corn for the first time since November and extended their bets that soybean prices would rise to the largest level in almost a year.
Corn sales jumped 80% to a marketing year high of 2.16 million metric tons in the week through April 21.
Speculative investors raised bets on soybeans as rainfall in Argentina, drought in Brazil threatens crops.
It’s not just lower input costs and adjustments to your outlay that will benefit you this year.