Soybeans– Soybeans were not able to rally despite trade deal developments. Argentina announced the export tax for soybeans will drop from 33% to 26%. For soybean products, the export tax will be reduced from 31% to 24.5%. Argentina has stated that these export tax reductions are permanent. The export tax reduction and the current weather pattern have weighed negatively on …
Can Trade Deals Help the Grains Move in the Right Direction?
Soybeans– Soybean traders are still unpacking the recent trade deals with the Philippines and Japan. The trade deal news has not impacted soybeans significantly in either direction. Last night, the White House said that the Japanese trade deal could include $8 billion worth of U.S. Ag products, however specific figures were not specified. Trade talks with China are scheduled to …
Recent Trade Deals Fail to Spark a Rally in the Grains
Soybeans– There was a trade deal made yesterday with the Philippines, and today there was a deal made with Japan. Despite the trade deals, soybeans were not able to rally. Further trade deals with South Korea, India, and the EU would be bullish. President Trump is expected to meet with China’s Xi this fall. The 14 day forecast shows temperatures …
Wheat Rallies While Corn and Soybeans Slide Lower on Tuesday
Soybeans– Soybeans traded lower to $10.10 on Tuesday. Soybean ratings are at 68% good/excellent, down 2 points from last week. South Dakota and Ohio saw the most improvement in soybean development, while Kansas and Missouri had the steepest declines. Soybean meal still has room to go lower with the funds at record short and the oil share on its way …
After the Strong Close Last Week, the Grains Trade Lower on Monday
Soybeans– A Bloomberg article came out this morning saying, China’s state-owned conglomerate Citic Ltd. will begin developing large-scale soybean and farms amid the trade war with the U.S. China has already invested large sums of money in developing Brazil’s Ag infrastructure, now they are expanding in Africa to compete in the grain markets. Temperatures are expected to increase this …
Soybeans Continue Higher on Thursday
Soybeans– Soybeans acres under drought continue to decrease. A seasonally cool weather pattern has developed over the northern Midwest, but it should end by early next week as heat moves from the west. Yesterday, there was morning flash sale for new crop soybeans, and rumors were that China may be potentially be the buyer. China is importing a record number …
The Grains Close Higher on Wednesday
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Soybeans– November Soybeans closed up 18 cents to 1019 3/4. The market has added some weather premium due to forecasts showing higher temperatures in the Midwest and eastern soybean growing areas over the next 11-14 days. August is the …
Not the Best Day for the Grains on Tuesday
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Soybeans– Soybeans traded slightly lower on Tuesday, however the 20/50MA did cross for the first time since May, which is a signal that soybeans could be headed lower. Soybean ratings are up 4 points to 70% good/excellent. The highest …
Corn Trades Higher to Start the Week
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Soybeans– The July WASDE report held no major surprises. New crop carryout was raised 15 mb. The USDA lowered new crop exports by 70 mb and raised crush 50 mb. Stocks/use is now 7.1% for new crop soybeans. The …
Grains Close Lower Following the July WASDE Report
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Soybeans– The July WASDE report came out this morning. Yield was unchanged at 52.5 bpa. Total production is now estimated at 4.34 bb. The June 30th Acreage report had planted area at 83.4 mb. New crop ending stocks were …