The soy complex saw values rally to new highs last week, bolstered by positive news regarding a plausible COVID-19 vaccine and soybean/soybean meal supply reductions for 2020/21. A downward technical correction lasted for a couple days after WASDE, but Jan-21 soybean futures closed the [...]
Soybean futures plummeted after testing a multiyear high last Monday, as COVID-19 concerns led to a selloff in the equity and commodity markets. Friday’s trading reversed the trend, meeting technical (and psychological) support near $10.50 per bushel. Fundamentals remain bullish both in the U.S. [...]
The soy complex extended its momentous run last week, hitting contract highs for futures connected to the 2020/21 marketing year. A combination of bullish factors supported the move: a tightening balance sheet, a surge in Chinese buying, and ongoing reports of troublesome weather in [...]
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, [...]
Soybean futures last Monday closed 9 points higher at $9.12 per bushel, the highest price since Jan. 22. The rally was fueled by less-than-ideal weather forecasts and continued strong import sales for new-crop soybeans. Weather reports Monday were indicating 50 percent of usual rainfall [...]
Soybeans, like corn, are developing quickly and are in good shape, leading the market to expect USDA will raise estimated 2020/21 yield in the August WASDE report. In July, USDA put new-crop soybean yield at 49.8 bushels per acre, based on the department’s weather-adjusted [...]
Soybeans ended last week strongly, with July-20 futures up by almost $0.30 per bushel. Optimistic signs of additional Chinese buying and weakening of the U.S. dollar offered hope of additional export demand. The market is preparing for Thursday’s WASDE without too much fanfare anticipated [...]
Soybean futures lost a little ground amid the rise in tension between the U.S. and China. May 22’s settle for the nearby contract was down over 11 cents from the start of the week. In the export market for the week ending May 14, [...]
