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 …
Wheat Moves Lower Ahead of Tomorrow’s WASDE Report
SOYBEANS– Soybeans were up 1 cent in the overnight session and continued higher during today’s session. Tomorrow’s report is expected to be one of the quieter reports of the year. The USDA may decide to raise their crush estimate and lower exports on tomorrow’s report. The average estimate for ending stocks on tomorrow’s report is 349 mb, compared to 350 …
Soybeans & Corn Trade Lower Ahead of President Trump’s Strait Reopening Deadline
SOYBEANS– Soybeans finished the day lower, with May leading November lower. Crude oil reversed lower which dragged soybeans down with it. The soybean chart looks to be forming a bear flag pattern. Ultimately, Iran’s response to President Trump’s deadline to open the Strait of Hormuz by 7 p.m. tonight may be the deciding factor in whether soybeans move higher or …
A Quiet Start to the Week for the Grains
SOYBEANS– Soybeans finished the day higher after trading 5 ¼ cents higher in the overnight session. For the week ending April 2, export inspections were 779k mt, an 84k mt increase from the week prior. Brazil’s harvest is estimated at 79% complete, compared to the 5-year average pace of 83%. May beans have a gap in the chart from 1193 …