Soybeans– Soybeans had a small move lower today just like corn. China’s government approved a new GMO variety of soybeans to enhance their production. Domestic production is a small part of their typical supply but it emphasizes China’s focus on a supply chain they control. China has also made significant investments in South America, particularly Brazil, to boost their Ag …
Wheat and Soybeans Bounce on Monday
Soybeans– Soybeans traded higher to start the week, after seeing a small gain in the overnight. S&P Global estimates soybean yield at 53.8 bpa, compared to the USDA at 53.6 bpa. China imported a record number of soybeans in August at 12.279 mt. The northwest Plains and central Kansas are expected to see rains this week, while the central and …
Soybeans Bounce off the 200-day Moving Average
Soybeans– Soybeans were slightly higher today after falling lower the previous two trading days. Rabobank now estimates Brazil’s new crop soybeans at 175 mt after increasing the planted area estimated by 1.5%. IMEA agrees with the higher planted area estimate, with higher expectations for Mato Grasso plantings. 16% of US soybean areas are under drought, compared to 19% a year …
The Sell Off Continues in Soybeans
Soybeans– The tariff situation is attracting more attention with the Supreme Court now expected to rule on Trump’s tariffs in October. If the Supreme Court rules against Trump, countries could ask for tariff refunds. Dryness in the eastern belt and parts of the South weighed negatively on soybean ratings, with condition declines seen in Illinois, Kentucky, and Tennessee. The Midwest …
Tariff News Send Soybeans Lower on the First Trading Day in September
Soybeans– Soybeans saw big move lower today because a federal appeals court ruled that most of Trump’s tariffs are illegal. Trump said that he would appeal this decision. The uncertainty surrounding tariffs will be something to watch going forward. Tariffs can stay in place until October 14, after that the federal court decision kicks in. There has been no update …
The Grains Close Higher on Friday, Led By Corn
Soybeans– The eastern Midwest is dry and will likely miss out on rain late next week. Temperatures in the Midwest are expected to be cooler for the next two weeks, with the potential for frost. Water levels in the Mississippi River have also been affected by dryness which may disrupt exports in the weeks ahead. China continues to buy soybeans …
The Grains Close Higher on Thursday
Soybeans– Soybeans had another quiet day. It seems like traders may be preparing for the holiday. China is starting weekly soybean auctions from their reserves to supply crushers, will increase the demand for new imports. South America has been the primary supplier for China, but that could change if trade deal gets done. US export prices are still competitive. LSEG …
December Corn Closes at 406 on Wednesday
Soybeans– Soybeans were quite again today after trading 2 1/4 cents higher in the overnight session. Lower temperatures are expected to continue over the next 2 weeks in the Midwest. The eastern part of the Midwest will be dry for the next week. China trade negotiators will head to DC for a meeting this week. Soybeans are trading above the …
More Sideways Trading for the Grains on Tuesday
Soybeans– Soybean conditions are 69% good/excellent, up 1 point above last week. Last year at this time, soybean ratings were 67%. New crop exports are still extremely weak. The PNW ports that ship soybeans to China are still not doing any business. The Midwest will continue to be dry and cooler if the forecast holds. Rains are expected in parts …
November Soybeans trade 10 3/4 cents lower on Monday
Soybeans– Soybeans made a high at 1061 and settled lower at 1047 in the November contract. The funds got rid of their net short position. Soybeans have seen recent support from soybean oil, which rallied after the EPA announcement on Friday. Larger refiners are expected to pick up more production from smaller refiners, which the market views as bullish. South …