Soybeans– After Friday’s major sell-off after President Trump’s social media post, soybeans traded slightly higher today. In the overnight session, soybeans closed up 1 1/4 cents. Trump tried to calm the markets with more social media posts over the weekend, which was successful in the short-term. It remains to be seen how this China situation develops over the long-term, however …
The Grains Sell-Off After President Trump’s Social Media Post on China
Soybeans– Soybeans had a major sell-off today after President Trump’s comment on social media. Trump said that China is sending letters to countries around the world saying that want to control their rare earth metals through tariffs. This update comes after talks were said to be going well. Trump and Xi were supposed to meet at the APEC Summit in …
The Grains Fall On Report that Xi May not Attend the APEC Summit
Soybeans– Soybeans traded even lower, after trading 4 1/4 cents lower in the overnight session. Today’s move lower was due to news that China’s Xi may not even attend the APEC Summit. The assumption was that President Trump would meet with Xi in early November. This could be just some type of negotiating tactic from the Chinese; however, the market …
Soybeans Lead the Grains Higher on Wednesday, No WASDE Report Tomorrow
Soybeans– Soybeans led the grains higher on Wednesday, after trading up 1 3/4 cents higher in the overnight session. President Trump reiterated his plans yesterday regarding a meeting China’s Xi. The WASDE report originally scheduled for tomorrow morning, will be canceled due to the government shutdown. Trade estimates were still released by research firms. The average analyst estimate of soybean …
Soybeans Trade Higher, Wheat and Corn Slip Lower on Tuesday
Soybeans– Soybeans traded higher, after closing 2 1/2 cents higher in the overnight session. Harvest is estimated at 40% complete, versus 47% last year. With no Commitment of Traders reports due to the government shutdown here are the estimates from StoneX for today’s session: funds bought 6,000 soybean contracts, sold 2,000 soybean meal contracts, and bought 4,000 soybean oil contracts. …
Argentina Wheat Conditions at 93% Good/Excellent, Versus 35% Last Year
Soybeans– Soybeans finished the day close to unchanged, after trading 2 1/2 cents higher in the overnight session. There could be some news ahead regarding a trade deal with India. India is seeking US soybeans for soybean oil and animal feed. Brazil planting is moving ahead of schedule with the drier weather they’ve been having. Planting in Brazil is now …
The Grains Trade Lower to End the First Trading Day in October
Soybeans– Soybeans closed lower, after trading 2 cents lower in the overnight session. The deadline for an increase on Chinese goods is set at November 9. Treasury Secretary Bessent said there could be a breakthrough in the next round of trade talks. With the government shutdown, some market data will be delayed. There will be no COT report this afternoon. …
Rumors of China Buying US Soybeans During the Government Shutdown Send the Grains Higher
Soybeans– Rumors of China buying US soybeans during the government shutdown sent soybeans higher today. Export sales were not reported during the shutdown. NASS crush numbers were also not reported yesterday. StoneX gave a new estimate for soybean yield at 53.9 bpa, compared to the USDA at 53.2 bpa. Argentina is seeing a drop in planted area for soybeans, down …
Soybeans Rally on Wednesday
Soybeans– Soybean stocks came in lower than analyst estimates on yesterday’s report. Stocks came in at 316 mb, compared to the average estimate 323 mb. Harvested acres were raised by 100,00. Yesterday, it was reported that China won’t be buying any US Ag products anytime soon. However, a farmer aid package is expected to be announced over the next few …
The Grains Trade Lower After the Quarterly Grain Stocks Report This Morning
Soybeans– The Quarterly Grain Stocks report was released this morning from the USDA. Soybeans stocks came in at 316 mb, compared to the trade estimate at 323 mb. Last year’s September Grain Stocks report had soybean stocks at 342 mb. On September 12, old crop ending stocks were estimated at 330 mb. Soybeans were the second biggest mover on the …
