Soybeans end the week near where they started

Futures activity Spot soybean oil futures also moved off five-month lows from $0.5578 cents per pound to $0.5629 per pound as of close Friday. Prices this time last year were near 35 cents per pound. S&D and fundamental factors August NOPA soybean crush came [...]

USDA adds 35 million bushels to 2021/22 soybean crop

Last Friday's WASDE report was in line with the previous week’s market expectations for soybeans—a modest increase in production due to improved yield prospects—but fell short of this week’s hopes for higher acreage. In sum, stocks for 2020/21 ended at around 175 million bushels, [...]

Safrinha planting nears completion

As of Mar. 18, safrinha corn was 90 percent planted as periods of dryness allowed for accelerated planting. Strong corn prices continue to incentivize Brazilian farmers to plant well beyond the ideal time. Brazilian soybeans were some 59 percent harvested overall with Mato Grosso’s [...]

Soybeans & meal turn bearish

A lackluster WASDE and higher production in Brazil helped to pressure soybean futures last week. May-21 soybeans lost about $0.20 per bushel over the course of the week as Brazil revised its production estimate higher: Its crop could be large enough to cover losses [...]

Strong February gains for the Food Price Index

FAO reported the February Food Price Index (inflation adjusted) up almost 15 percent from January. The index saw gains for nine straight months and is now at its highest point since 2011. Every single subindex gained in February, with the strongest gains seen for [...]

Soybean prices test new highs before falling

Soybean futures prices rallied last week and tested new highs, with values Thursday reaching $14.43 per bushel. However, prices could not hold and subsequently ended the day below the previous high of $14.36 per bushel on Jan. 14. Soybean harvest delays in South America [...]

WASDE confirms lower domestic soybean stocks

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 [...]

Corn futures consolidate ahead of USDA report

Corn prices traded in a relatively narrow range of about $0.10 per bushel last week. Traders were also positioning ahead of what is expected to be a fairly bullish WASDE report tomorrow as the market foresees the potential for additional declines to ending stocks [...]

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