Futures activity After a bullish WASDE report (arguably more so for corn and wheat than soybeans directly), prices rallied after weeks of consolidation. Sept-21 soybean futures closed last week higher by nearly 32 cents at $13.73 per bushel. Soybean oil followed suit, with the [...]
Futures activity Soybean futures rallied last week, driven by weather concerns and impact on yield. Aug-21 soybeans closed Friday at $14.5475 per bushel, up from $14.04 on Monday. Aug-21 soybean meal closed the week at $363.20 per short ton, and Aug-21 soybean oil settled [...]
In the June WASDE, USDA lowered its 2020/21 corn ending stocks to 1.107 billion bushels, down 150 million bushels from the May figure and well below industry expectations. The drop in stocks was caused by 2020/21 U.S. exports and ethanol demand each rising by [...]
Friday’s world crop supply and demand update brought an expected increase to 2020/21 U.S. soybean exports, which USDA offset by tinkering with other use numbers, leaving ending stocks unchanged from the February and March estimates. USDA attributed the 30 million bushel increase in exports, [...]
In the April WASDE, USDA lowered its 2020/21 U.S. corn ending stocks forecast by 150 million bushels to 1.352 billion bushels. This change to carryout is due to both exports and domestic use each rising 75 million bushels. For 2020/21, exports are now forecast [...]
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 [...]
USDA made no changes to the 2020/21 U.S. corn balance sheet in the March WASDE. Ending stocks remain forecast at a multiyear low of 1.502 billion bushels, exports at record 2.600 billion bushels, and domestic use at 12.025 billion bushels, a five-year low. Globally, 2020/21 corn ending stocks rose by about 1.1 [...]
In the February WASDE, USDA raised its 2020/21 corn exports forecast by 50 million bushels to 2.600 billion bushels. This dropped USDA’s 2020/21 U.S. corn ending stock forecast by 50 million bushels to 1.502 billion bushels, notably above the average industry estimates of 1.384 [...]
