SOYBEANS– Soybeans traded lower today after failing to trade above resistance at 1135 in the July contract. November beans failed to make a move above resistance at 1153. November beans have support at 1133. Soybean oil has cooled off since making new highs and could be getting ready for the next leg higher. Soybean exports were 424k for the current …
Soybeans Make an Early High Then Fade Lower on Tuesday
SOYBEANS– November soybeans made a high at 1156 ½ this morning before fading the rest of the day. The Crop Progress report yesterday showed conditions declining in Iowa and Illinois by 3 points each. Missouri also had unfavorable conditions. July soybean oil is at key support now after falling from its high at 79.69. July ’26 Soybeans (ZSN26) settled at …
The Grains Trade Higher As Crude Breaks
SOYBEANS– November soybeans finished the day positive but still have resistance above at 1140. Friday’s COT showed funds selling the soybean complex. Funds sold 65k contracts of beans, 74k contracts of meal, and nearly 25k contracts of bean oil. July bean oil closed positive, while December bean oil finished lower on the day. July ’26 Soybeans (ZSN26) settled at 1118.75 …
The Grains Look Weak on Friday
SOYBEANS– The whole soybean complex was slightly lower to end the week. Argentina’s harvest is nearly complete. The USDA raised their estimate for Argentina’s crop 2 mmt on yesterday’s report to 50 mmt. Soybean areas under drought are well-above last year at 25%, compared to 13% previously. However, soybean areas under drought did fall 3 points this week. July ’26 …
The Grains Trade Lower After the June WASDE
SOYBEANS– It was quiet report for the grains. New crop estimates were unchanged from May. The USDA’s estimate for new crop production was higher than the pre-report estimate. Argentina’s soybean production was increased from 48 mmt to 50 mmt. Brazil’s production estimate was unchanged at 180 mmt. The next support for November beans is 1120. July ’26 Soybeans (ZSN26) settled …
Soybean Meal Reverses Lower on Tuesday
SOYBEANS– Yesterday’s crop progress report had soybean conditions at 65% good/excellent, which was 1 point behind last week’s rating. According to the USDA, Iowa and Wisconsin beans are looking the best, while Indiana was rated the worst. Planting is 92% complete. Soybeans were 73% emerged, compared to the 5-year average at 71%. July meal reversed lower today, making a high …
The Grains Trade Lower on Friday
SOYBEANS– The grains continue to sell-off, with rain expected next week in the Midwest. The market is still waiting on new purchases from Chinese importers. Soybean meal and bean oil have reversed lower. Argentina’s soybean harvest is nearly finished at 92% complete. Yesterday’s export report showed sales of 276k mt for this year and 243k for next year. July ’26 …
Wheat Continues to Move Lower
SOYBEANS– Soybeans made another move lower today after losing support at 1170 in the July contract. The next level of support for July beans is 1140. The grains are breaking with crude still moving higher. If crude reverses the move lower could intensify. Soybean planting is moving along at 87% planted, as of May 31. July ’26 Soybeans (ZSN26) settled …
Wheat Trades Lower on Tuesday
SOYBEANS– Soybeans were rated 66% good/excellent, compared to last year’s rating at 67%. The 10-year average at this point in the year is 69%. Indiana’s soybean conditions were rated the worst at 10% poor/very poor. July soybean oil made a new high at 79.69 yesterday but was able to top that today. Soybeans may be starting to roll over. July …
Soybeans Trade Lower on Monday
SOYBEANS– Today’s crush report showed 6.55 mmt or 218 mb of soybeans crushed in April. The pre-report estimate for soybean crush was 214.7 mb. Friday’s COT report showed funds selling 18k contracts. Managed money still has a 180k net long position. Soybeans remain overvalued, but that does not mean they have to break. July ’26 Soybeans (ZSN26) settled at 1181.25 …