AgVentures in Panama | January 15-19, 2025
Join me for an unforgettable journey through Panama this January. Discover the engineering marvel of the Panama Canal firsthand, gaining invaluable insights into its history, operation, and impact on global trade
This one-of-a-kind trip includes expert-led tours of the Panama Canal both by land and water, a day of relaxation aboard a private 54-ft catamaran, four nights accommodations in the historic, five star Sofitel Legend Casco Viejo and most meals.
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This Week’s Top 5
Wipe out!
Soybean meal was last week’s biggest loser, down 4.7% on the week, continuing its now eight-day losing streak - the largest such streak for nearby meal since September 2022.
Relative strength in soybean oil, a lack of competitiveness in export markets and Europe’s likely delay in its deforestation regulations have all contributed to the crash.
Oily
Soybean oil finished the week down 1.5%, but remains 12% higher than its mid-September lows, drawing much of that strength from palm oil which continues to make new highs:
Tuesday, nearby palm traded above 4400 MYR ($1030/tonne) for the first time since April.
Its futures premium over soybean oil continues to grow, averaging a $40/tonne premium each day since late September and closing out the week $60 higher than bean oil on Friday.
High-yielding
USDA increased US corn yield 0.2 to 183.8bpa in the Oct WASDE, for their third monthly increase in a row.
Soybean yield was reduced by 0.1 at 53.1bpa - the first downward revision of the year.
State by state changes from September:
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