Futures activity

  • Following a day of significant strength and approaching cash market convergence, Sep-22 soybean futures closed last week a bit weaker than it started at $15.105 per bushel. Nov-22 futures closed at $14.205 per bushel.

S&D and fundamental factors

  • StoneX raised their forecast U.S. soybean yield to 51.8 bushels per acre—closer to USDA’s current projection of 51.9 bpa—and pegged Brazilian production at 153.6 MMT.

Weather, macro indicators, and news

  • Crude oil prices came under pressure earlier last week (though have since rebounded) with China implementing additional measures in Shenzhen, a major city with a population of around 20 million people. Factory output has suffered throughout the summer under various COVID-induced lockdowns.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.