WASDE: Industry hits on soybean stocks, misses on corn

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 [...]

Soybean exports totaled 37.3 MMT ahead of the holidays

As of Dec. 24, the U.S. had exported 79 percent more soybeans this season than last year to date. Most-recent four-week exports totaled 10.2 MMT, down slightly from the four-week total for November. Of the 2.4 MMT exported during the week of Dec. 24, [...]

Lower U.S., global soybean stocks

Soy complex futures closed on Friday nearly flat with the week’s start. Last Thursday’s WASDE report reflected a smaller-than-expected downward revision in U.S. soybean stocks, leaving the market little to get excited about. Global soybean stocks were lowered by about 1 MMT. The only [...]

China & weather continue to fuel soybean rally

As we enter the first month of the new marketing year, 2020/21 soybean exports are expected to continue at a blistering pace thanks to large buys from China during the last quarter of 2019/20. This activity fueled an impressive late-August rally in soybean futures, [...]

24.2 MMT of 2020/21 soybean exports already sold

As of Aug. 27, the U.S. had pre-sold 24.2 MMT of new-crop soybeans, beating the previous sales record set in 2013/14 of 23.9 MMT of 2014/15 soybeans. USDA is currently forecasting 2020/21 U.S. soybean exports at 57.8 MMT (2.125 billion bushels), a return to [...]

Soybean exports closing out August on high note

The U.S. exported 1.28 MMT of soybeans during the week of Aug. 20, the highest weekly volume since last December. The week’s shipments raised cumulative 2019/20 exports to 43.24 MMT (1.59 billion bushels). The season total seems poised to beat USDA’s current forecast of [...]

Soybean exports have a big week

Tensions between the U.S. and China continued as the U.S. demand for the closure of China’s Houston consulate was met with a retaliatory demand for the closure of the U.S.’s Chengdu consulate. Amidst the friction, China purchased a hefty volume of U.S. soybeans last [...]

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