SOYBEANS– Soybeans closed higher after a 5 ½ cent gain in the overnight session. Soybeans likely have a big move coming given the sideways trading pattern seen over the last month. The pattern on the soybean chart is very similar to the cotton chart before it rallied 15 cents. Planting is moving ahead of schedule at 12% planted, which 5 …
Wheat Rallies on Monday
SOYBEANS– Soybeans closed slightly lower on the day. July beans made a low at 1177. Soybean oil had a strong move higher to start the week and is coming up against resistance. Soybean meal finished the day lower and may have further downside ahead. July ’26 Soybeans (ZSN26) settled at 1180.75 (-2.25), high of 1187.25, low of 1177. November Soybeans …
WRT World Agricultural Supply and Demand April 19
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Soybeans Reverse Higher on Friday
SOYBEANS– July beans made a low just after the open at 1168 before reversing higher. Soybean oil closed lower today along with meal. Soybean oil is holding trendline support for now but could be headed lower with the weakness in crude. If that materializes, soybeans may break as well. July beans have strong resistance at 1200. July ’26 Soybeans (ZSN26) …
Wheat Rallies on Thursday
SOYBEANS– Soybeans closed lower on Thursday. Soybeans have been trading largely sideways since the limit down day on March 16, while meal and soybean oil prices remain high. The market is likely waiting on the meeting between Trump and China next month before making its next move. The weekly chart shows May beans closing at its resistance level. May ’26 …
Wheat Trades Higher on Tuesday
SOYBEANS– Soybeans closed lower on the day today. The May chart looks like it has strong resistance above. Harvest in Brazil is nearing completion at 90% harvested. CONAB estimates Brazil’s crop at 179.152 mmt. If CONAB’s estimate materializes that would be a new record crop for Brazil, and a 4.5% production increase from 2025. May ’26 Soybeans (ZSK26) settled at …
Wheat Starts the Week Higher
SOYBEANS– Soybeans started the week lower, with the front-month contract leading November down. Beans may be seeing some pressure from the unwind in soybean oil. The soybean market may be able to avoid breaking before the mid-May China meeting if crude can stay elevated. May ’26 Soybeans (ZSK26) settled at 1160.75 (-15), high of 1183.75, low of 1160. November Soybeans …
Soybean Meal Rallies on Friday
SOYBEANS– Soybeans closed the week higher, making a high at 1178 ¼ in the May contract. Soybean meal rallied hard today, after a morning flash sale for 100k mt to Italy. Soybean meal is showing technical strength and should help support beans next week. Soybean meal has resistance at the March high, 335 ½. Soybean oil is sitting at trendline …
A Bearish WASDE and Forecasted Rains Drag Wheat Lower
SOYBEANS– Soybeans were able to finish the day positive, despite crude falling 7 dollars intraday. Today’s WASDE report was very quiet, as expected. No changes were made to the domestic balance sheet. World production was raised slightly but was offset by a higher crush number. Ending stocks were lowered from 125.31 mmt last month to 124.79 mmt. The May report …