SOYBEANS– May beans were up 3 ½ cents in the overnight session but closed today’s session lower. After selling off with crude yesterday, soybeans failed to rally with crude today. There is likely some risk being taken off ahead of Good Friday. Crush is continuing at a strong pace, with a new crush record for February at 214 mb. Crush …
Lower Crude Oil Pressures the Grains on Wednesday
SOYBEANS– Soybeans were 5 cents lower in the overnight session and were lower again today. May beans made a low at 1153 but reversed higher as the day went on. The potential for a ceasefire between the US and Iran sent crude lower today and dragged beans down with it. Acreage was estimated yesterday below the average trade guess at …
Soybeans Close Higher After the USDA Estimates Acreage Below the Trade Estimate
SOYBEANS– The Grain Stocks and acreage reports were released this morning. The USDA estimated planted area at 84.7 ma, which is a 4% increase from last year. The average trade estimate pre-report was 85.52 ma. The USDA estimated soybeans in all positions at 2.10 bb, up 10%. The pre-report estimate for quarterly stocks was 2,077 mb. Off-farm stocks and on …
Corn Trades Lower Ahead of the Acreage & Quarterly Stocks Reports Tomorrow
SOYBEANS– It was a quiet day for beans ahead of the big report day tomorrow. Analysts are expecting soybean acreage to increase by at 4 million acres. Soybean stocks are also anticipated to rise. I would be very surprised to see soybeans close higher tomorrow. Fundamentals have been ignored recently, with crude rallying and the China meeting ahead. However, I …
WRT World Agricultural Supply and Demand March 29
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Soybeans Close Lower on Friday
SOYBEANS– Soybeans finished the day lower after a 4 ¼ cent gain in the overnight session. The EPA’s RVO decision was released today. The biodiesel mandate is set at 8.86 billion RINS for 2026 and 8.95 for 2027. Soybean oil was lower heading into the release of the new biofuel mandate, but reversed following the decision. The average trade estimate …
Wheat Moves Higher on Thursday
SOYBEANS– After the bounce yesterday, soybeans closed nearly unchanged. May was up 1 ¼ cents in the overnight session. The meeting between President Trump and Xi scheduled for May 14-15 should help support soybeans. For the week ending March 19, soybean export sales were 668k. However, the acreage report on Tuesday is expected to come out bearish. The new biofuel …
Soybeans Rally After May Trump/Xi Meeting Announcement
SOYBEANS– Soybeans made a solid gain today after it was reported that President Trump will be headed to China May 14. The new biofuel mandate is expected to be released on Friday. The acreage and grain stocks reports will be out on Tuesday. Brazil’s soybean harvest is estimated at 65% complete. Soybeans will likely continue to be volatile going forward. …
Soybeans Trade Lower on Tuesday
SOYBEANS– Soybeans finished the day lower after trading 3 ½ cents lower in the overnight session. AgMarket updated their forecast for soybean acreage to 86.1 ma from 85 ma previously. There was already a shift from corn and cotton acres to soybeans expected. The high cost of fertilizer is also likely to shift more acreage to beans. The new biofuel …
Corn and Wheat Sell-Off With Crude Oil on Monday
SOYBEANS– Soybeans were up 5 cents in the overnight session and higher again today. Brazil’s harvest is estimated at 65% complete. For the week ending March 19, soybean exports were 1.1 mmt, compared to 981k the week prior. There was a 161k flash sale this morning for delivery to Mexico. There was some profit taking in meal today following the …