SOYBEANS– May was up 12 ½ cents in the overnight and up again today. The grain markets have had a very bullish reaction to the Iran conflict. Brazil exporters have gone no bid. Cargill has stopped exports, as China has requested that Brazil adjust their soybean inspection process. Brazil’s harvest is estimated at 50% complete, still behind the average pace. …
Grains Rally on Wednesday
SOYBEANS– Soybeans continued their recent trend of trading higher in the overnight session. May was up 10 ¼ cents overnight. Soybeans rallied again during today’s session. Soybeans have been supported by the strong bullish trend in soybean oil. Yesterday’s WASDE report was quiet for soybeans. There were no changes to the domestic balance sheet. World production was kept close to …
Soybeans Rally Following a Quiet WASDE Report
SOYBEANS– Soybeans were down 3 cents in the overnight session but closed higher today. It was a quiet report day for soybeans. There were no changes to the domestic balance sheet. World production was kept close to unchanged. The estimate for Argentina’s soybean production was 48 mmt, from 48.50 previously. World ending stocks were estimated on today’s report at 125.31 …
The Grains Start the Week Lower Following Last Week’s Rally
SOYBEANS– Soybeans were up 19 ¼ cents in the overnight session but traded lower today. Soybean oil closed the day lower, after 10 days of higher closes. President Trump is expected to meet with China at the end of the month. Both countries are said to be aiming to set their differences in regard to Iran aside to focus on …
WRT World Agricultural Supply and Demand March 8
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The Grains Rally to End the Week
SOYBEANS– Soybeans rallied hard to end the week along with wheat. The war in Iran has been supportive for the grains, in addition to lackluster rainfall in Argentina. Given the recent strength, I feel soybeans can rally another 20-30 cents. The plantings report will give further insight into acreage numbers at the end of the month. 4-5m acres are expected …
Chart of the Day – July Corn
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Wheat Leads the Grains Higher on Thursday
SOYBEANS– Soybeans were up 4 cents in the overnight session and were higher again today. Soybean oil keeps ripping higher. CONAB estimates Brazil’s harvest is 42% complete versus the 5-year average at 38%. Export sales came with the estimated range this morning. Exports were 383k for the current marketing year. Exports are at 84.1% of the USDA forecast compared to …
The Grains Trade Lower on Wednesday
SOYBEANS– Soybeans were up 1 ½ cents in the overnight session but traded lower today. Soybean oil continues to trade higher, which is supporting soybeans. I think that when soybean oil starts to slow down it will bring soybeans down as well. StoneX estimates funds sold 12k soybean contracts yesterday. Friday’s COT showed funds very bullish soybeans, with a long …
Soybeans Add to the Gain From the Overnight Session
SOYBEANS– Soybeans were up 16 ¼ cents in the overnight session and continued higher during today’s session. Soybean oil is also grinding higher. The plantings report is scheduled for the end of the month, while the March WASDE is scheduled for next Tuesday. Soybeans will likely have some volatility going forward because of these reports. For now, soybeans continue to …