Soybeans– Soybeans continued sharply lower following President Trump’s call with China’s Xi on Friday. The market reacted negatively to the lack of attention to purchases on the call. Both parties are expected to meet again in South Korea in November at the APEC summit. A deal may not be agreed upon until 2026. China has been doing their soybean buying …
WRT World Agricultural Supply and Demand September 21
SOYBEANS SOYBEANS ’23/’24 Est USDA ’24/’25 Est ’25/’26 Proj September Million Acres Area Planted 83.6 87.1 81.1 Area Harvested 82.3 86.1 80.3 Bushels Yield per Harvested Acre 50.6 50.7 53.5 Million Bushels Beginning Stock 264 342 330 Production 4,162 4,366 4,301 Imports 21 27 20 Supply, Total 4,447 4,736 4,651 Crushings 2,285 2,430 2,555 Exports 1,700 …
President Trump’s Call With Xi Sends Soybeans Lower
Soybeans– President Trump and China’s Xi had a phone call today, marking the 4th round of trade talks between the two countries. The markets were hoping that today’s talks would discuss details regarding US Ag purchases, however the discussion focused on TikTok. The call was said to be positive, with Trump saying he would visit China early in ’26. Soybean …
The Grains Trade Lower on Thursday
Soybeans– Soybeans have faced pressure from weakness in soybean oil and improving crop conditions in Brazil. Stats Canada released their soybean production estimate at 7.134 mt, up from 7.016 mt in August. Last year, Stats Canada estimated soybean production at 7.568 mt. The central and western soybean belt is expected to stay day over the next 6-10 days, which should …
Corn Makes a High at 431 1/4 and Fades the Rest of the Day, Closing Lower
Soybeans– Soybeans traded 5 3/4 cents lower today, after trading down 4 1/4 cents in the overnight. Yesterday, the EPA released a proposal for a 50% or 100% reallocation to larger refiners for the waived obligations of small refiners. The rate cut should help make the dollar weaker, which is supportive of export prices. US soybean prices are still at …
Wheat Shows Strength For the Second Day in a Row
Soybeans– Soybean harvest is now 5% complete, which slightly ahead of the average pace for this time of year at 3%. Soybean ratings stand at 63% good/excellent, -1 point from last week. Last year at this time, soybean ratings were 64% good/excellent. Soybean oil stocks are at an 8-month low, while August crush was up 20%. The eastern part of …
Wheat Trades Higher, Profit Taking in Corn and Soybeans on Monday
Soybeans– Soybeans traded slightly lower following the rally after Friday’s WASDE. According to IEM estimates, parts of the central Midwest including parts of Missouri and Illinois are at their driest levels on record for the past 30 days. Other forecasters have the central Midwest at the top 10 or top 5 driest level in the past 133 years. The eastern …
Corn and Soybeans Rally After the September WASDE
Soybeans– Soybeans traded 11 ¾ cents higher after today’s report. Area planted was increased from 80.8 ma to 81.1 ma. Area harvested was increased from 80.1 ma in August to 80.3 ma. Yield was lowered from 53.6 bpa to 53.5. The production estimate for new crop soybeans is now 4,301 mb. Exports were decreased from August at 1,705 mb to …
What to Look For on Tomorrow’s WASDE Report
Soybeans– The WASDE report comes out tomorrow morning. The average estimate for soybean yield is 53.2 bpa, compared to 53.6 bpa in August. Analyst estimates for soybean yield are 54.0 bpa on the high end and 52.4 bpa on the low end. Acreage is expected to be unchanged at 80.1 ma. The average estimate for soybean production is 4,262 bb, …
Wheat Trades Lower After Russian Drones Were Spotted in Poland Yesterday
Soybeans– Soybeans traded lower on fears of the USDA lowering new crop exports. Reportedly China has already made purchases for 94% of their October needs and 15% of their needs for November. China has been making the majority of their purchases recently from Brazil. Trump was granted a fast-track on his ruling for his recent tariffs, with arguments starting on …