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The Weekender

The Weekender

May 5

May 05, 2024
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No Bull
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The Weekender
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Summit 24 Update

I am excited to announce two new additions to the lineup as well as a detailed agenda, below:

  • Matt Herman, Chief Officer of Advocacy & Demand with Iowa Soybean Association will join me to discuss the impending soybean oil tug of war between biomass-based diesels and sustainable aviation fuel

  • Mac Marshall, VP of Market Intelligence at the United Soybean Board will be emceeing the event

Register in May to save $100 with the Earlybird Special! Visit NoBullSummit.com for more information & to register.

Sponsorship opportunities are still available. Email susan@nobullag.com for availability.


Weekly Winners & Losers

Cocoa spent last week in retreat mode, down 23% last week and dipping below $7,000/tonne on Friday before settling at $8,145.

Its recent volatility has been wild: -15.7% Monday, +3.9% Tuesday, -10.8% Wednesday, -8.7% Thursday and +7.7 Friday.

Weather, wheat (depending on the day), a rally in beans, concerns about the Argentine crop and a weak dollar all provided support for corn last week.

Dec corn closed above $4.80 for the first time since the end of January and at its highest level since January 11.

Although current-year new crop wheat futures closed near unchanged on the week, 2025 futures continued their climb into new highs for the move:

Seasonal - 2024 new crop Chicago futures:

(cough, cough trade in the mid-$6s is relatively rare)

Kansas City:

Nov beans closed above $12 for the first time in more than 6 weeks:

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