Soy complex futures rocketed higher last Friday via support from today’s USDA acreage and stocks reports. May-23 soybean futures climbed 31 cents and Nov-23 futures rose 16 cents. U.S. soybean stocks as of Mar. 1 were 1.685 billion bushels, lower than last year by [...]
The hike in corn pricing in 2021 lifted the net cost of corn (after accounting for the credit from selling several processing coproducts, such as corn gluten feed) to levels not seen in ten years, when the Corn Belt suffered a widespread, devasting drought. [...]
Last week’s WASDE report confirmed the trade’s expectation of declining domestic soybean stocks. Now pegged at 120 million bushels, U.S. soybean stocks are poised to touch their lowest level since 2013/14. After an initial bullish market reaction, futures traded lower on Wednesday before climbing [...]
