A wet start to South American soybean harvest

As of last week, soybean harvest in Brazil’s Mato Grosso was just over 2 percent complete, down about 12 points YOY and almost 10 points below the five-year average. Rain is expected in Mato Grosso in the near term but should not hinder decent [...]

Soybeans correct after soaring higher on bullish WASDE

Last week was interesting for the soy complex as prices rallied before correcting a bit on Friday. A bullish WASDE report sent soy complex futures to new highs with the Mar-21 contract surpassing $14 per bushel for the first time since 2014. Likewise, soybean [...]

Will funds continue to liquidate soybean commitments?

Holiday weeks and the end of the year in general are notorious for volatility and fewer market participants. Those factors are likely behind the price swings we’ve seen just this past week. Focusing on the longer term, the question is whether funds are done [...]

Corn rises again

Nothing seems to be stopping speculative interest in corn (and other ag commodities). Dec-21 corn futures continued to climb higher last week, testing contract highs near $4.20 per bushel, a value last reached in July 2019. The current net long position in ag commodities [...]

Weather may limit South American corn production

As of Jan. 23, the Argentine corn crop was 94.7 percent planted, up 3.8 points from the prior week and up 2 points YOY. Yield expectations for the current crop are about the same as last year’s, per Bolas de Cereales. For early corn, [...]

Corn market feels pressure from uncertain demand

Harvest of the U.S. corn crop has begun. Production remains a little uncertain, with just 29 percent of this year’s crop at maturity as of Sep. 22, about two weeks behind the average pace of development. So far, it appears the weather will be [...]

Corn acreage expected to rise, soybeans to fall in 2019

Looking ahead to 2019/20 corn, the consensus is U.S. acreage will increase, but the extent of the increase is a hot topic right now. A recent survey of growers conducted by Farm Futures puts new-crop corn acreage at 90.3 million acres, up just over [...]

WASDE watch: Soybean exports

USDA will update 2018/19 S&D projections on Tuesday. In November, USDA lowered this season’s U.S. soybean exports to 1.9 billion bushels due to the trade dispute with China. With 2018/19 ending stocks already forecast at a record 955 million bushels, the industry is wondering how close [...]

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