SOYBEANS– May beans were up 3 ½ cents in the overnight session but closed today’s session lower. After selling off with crude yesterday, soybeans failed to rally with crude today. There is likely some risk being taken off ahead of Good Friday. Crush is continuing at a strong pace, with a new crush record for February at 214 mb. Crush …
Grain Spreads: Funds Defend Positions
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Yesterday’s USDA reports were mostly neutral to the market as numbers were within the range of expectations. The most noted numbers were a slightly larger corn acreage and higher soybean stocks than the average guess, …
Lower Crude Oil Pressures the Grains on Wednesday
SOYBEANS– Soybeans were 5 cents lower in the overnight session and were lower again today. May beans made a low at 1153 but reversed higher as the day went on. The potential for a ceasefire between the US and Iran sent crude lower today and dragged beans down with it. Acreage was estimated yesterday below the average trade guess at …