Commentary: The soy found support today with some global support. The USDA will release the supply and demand Thursday. The expectation is for a slight reduction in soy stocks. If realized this could be a bit supportive in the near term. The carry around 400 at present would be deemed manageable. If this transpires the beans could witness a rally …
Soy Update
Commentary: The soybeans are essentially range bound midway in a 60 cent range. The overall demand picture has weighed this week on beans as well as most markets in the AG. The USDA will release supply and demand estimates next week. The question is how much will they reduce exports due to corona, if at all. Looking forward at some …
Soy Update
Commentary: The soy traded both sides today due to outside influence. The soy in the near term will look at the SA production estimates. The Brazilian estimates are coming down. This will open a window for the US to make sales to China. It is possible that the Chinese start to restock and US purchases should be on the buying …
Soy Update
Commentary: The soybeans witnessed a lower trade today. The market is under pressure for a couple reasons. The overall demand remains weak for exports. This is due to the Brazilian exports of approx 13 mmt during March, a record. The main destination is China. The USDA numbers yesterday showed a larger carry than anticipated. This could prove important, and could …
Soy Update
Commentary: The USDA released the stocks and acreage estimates today for March. The soy stocks came in at 2.253 billion. This was larger than anticipated. The acreage came in at 83.5 mil acres. This was smaller than anticipated by approx 1 million acres, but still up from 19 by 7.4 million acres. As mentioned over the last couple of days, …