Soybean & soybean oil futures move in opposite directions

Futures activity Soybean oil futures rose steadily all last week, supported by rising palm oil prices. Dec-21 bean oil futures rose from 58.85 cents per bushel to 61.40 cents per bushel, nearing a two-month high if futures climb to 62.3 cents per pound this [...]

No late-season surprise in soybean oil exports

The 2020/21 soybean oil export marketing year closed very quietly—Q4 saw the slowest export pace since 2001—for both shipments and sales. U.S. soybean oil exports during 2020/21 totaled 1.49 billion pounds per FAS weekly shipment data, 13 percent lower than USDA’s estimate of 1.715 [...]

WASDE: Higher carry-in & bigger crop pad 2021/22 corn stocks

In the October WASDE, 2021/22 U.S. corn beginning stocks are estimated at 1.236 billion bushels, up 49 million bushels from September. Estimated 2021/22 corn yield is 176.5 bushels per acre (bpa), up 0.2 bpa from the previous estimate and above industry expectations. With improved [...]

Corn futures edge lower ahead of WASDE

Futures activity Dec-21 corn futures dropped by roughly $0.10 over last week to close at $5.3050 per bushel. Since the last week of September, futures have traded in a narrow range. S&D and fundamental factors Global ending stocks are projected to rise by about [...]

September FAO food price indexes up across the board

Led by cereals, vegetable oils, and dairy, all FAO food price subindexes were up in September. Though gains were modest, the aggregate Food Price Index (FPI) still rose over 1 percent from August. (All values are adjusted for inflation.) The FPI showed monthly gains [...]

South American corn & soybean planting begins

At the start of October, early-season corn planting in Brazil was about a third complete, slightly above the five-year average. Brazil’s soybean crop was some 4 percent planted, a couple of points above the average. Light to moderate rains and warm to hot temperatures [...]

Post-report pressure on soybean, soy meal futures

Futures activity Nov-21 soybean futures came under extreme pressure after Thursday’s Grain Stocks report, settling the week at $12.4650 per bushel, down 41 cents per pound from Monday. Soybean meal futures also took a hit as the Dec-21 contract closed last week lower by [...]

Weekly corn & soybean crop ratings unchanged

As of Sep. 26, U.S. corn was rated 59 percent good to excellent and 15 percent poor to very poor, unchanged from the week prior. Corn maturity was nearly three-fourths complete nationwide and was about 10 points above the five-year average. Harvest was 18 [...]

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