Soybeans– As of Monday, planting progress is at 90% complete, up 6% over last week. The 10-year average for this time of year is 84%. Crop conditions were rate 68% good/excellent up 1% over last week. The 10-year average for soybean conditions at this time of year is 69%. The best conditions for this time of year came in 2018 …
Corn, Beans, Wheat All Move Lower on Monday
Walsh Pure Hedge Division The focus for the soybean market is on trade talks. The U.S. and China will meet this week in London to continue negotiating. Last week, President Trump and Xi had a productive discussion, setting up this meeting. Above-normal rains are expected in the southeast and northern Plains, but overall, the forecast has been solid for early …
Wheat Leads the Grains Higher Heading Into the Weekend
Soybeans– According to the Buenos Aries Grain Exchange, Argentina’s soybean harvest is 88% complete, up from 80% last week. Despite slow harvest pace due to flooding, yields have been surprisingly strong. Brazil continues to export soybeans at a solid pace, with May soybean exports at 14.1 mt, from 15.3 mt in April, but above 13.47 from a year ago. Temperatures …
Soybeans Trade Higher on China Trade Deal Optimism
Soybeans– Soybeans moved higher today after a phone call between President Trump and China’s Xi. The 30-minute discussion was productive, with Trump saying he will visit China to continue trade talks. Soybean planting is at 76% as of 5/25, up 10% over last week. Planting is well ahead of schedule with the 10-year average for this time of year being …
Can the Grains Rally Higher This Summer?
SOYBEANS – Soybean planting is at 76% as of 5/25, up 10% over last week. Planting is well ahead of schedule with the 10-year average for this time of year being 63%. The national crop was 50% emerged, ahead of the average at 40%. May saw above-normal rainfall in the South and East Coast with total drought coverage for the …
Soybeans Lead the Grains Higher
SOYBEANS – U.S. planting is 84% complete compared to 77% last year at this time. Planting is lagging behind in the South with Tennessee, Kentucky, and Mississippi having the slowest planting pace. Despite mixed conditions in Brazil, StoneX raised its Brazil crop estimate to 168.25 mb. The USDA estimate is 169 mb. Soybean crush came out yesterday. NASS soybean crush …
Wheat Market Trades Higher to Start the Week
SOYBEANS – Soybeans made another big swing lower today due to weather, after closing lower on Friday. Weather lately has been good for early development. Rains continue to show up in the 10-day forecast across the Plains and Midwest. Trade talks between the U.S. and China broke down. For the week ending May 22, soybean sales were 178k. Cumulative soybean …
Soybeans Fall to 1.5 Month Low to End the Week
SOYBEANS – Soybeans made a big swing lower today due to weather. Weather lately has been good for early development. The soybean oil market, at its 1 ½ month low, is also dragging soybeans down. The oil share is working lower, and as a result soybean oil is lower while soybean meal trends higher. Soybean meal has been beaten up …
HRS Wheat at Support – With Crop Ratings Near the 40-Year Low
SOYBEANS – Soybeans recovered some today, after falling 14 cents on higher open interest yesterday and falling 5 cents in overnight trading. Yesterday’s open interest rose 8000 contracts showing that new short positions were opened. On the latest COT report, commercials were short -34k soybean contracts, which is their third highest short position of the year. While no official trade …
Corn Crop Ratings Crash to a 6-Year Low
SOYBEANS – Soybean planting is at 76% as of 5/25, up 10% over last week. Planting is well ahead of schedule with the 10-year average for this time of year being 63%. Of the 18 major states, just KY (-5%), MS (-7%), and OH (-10%) were all lagging their respective 5-year averages. The national crop was 50% emerged, ahead of …