Soybean Prices Trade Near Decade Highs with Robust Export Demand

Soybean prices pulled back Friday more than 1% despite USDA showing tightening domestic stocks and robust export demand in the WASDE report. The report cited strong export sales and a reduced export forecast for Brazil. The move was more around profit taking with prices seeing the highest level in nearly a decade earlier this week. Soybeans Futures Highlights U.S. soybean futures closed Friday more than 1% lower. July futures fell 21 cents to $17.48, with August futures down 17.75 cents … Continue reading “Soybean Prices Trade Near Decade Highs with Robust Export Demand”

Soybean Prices Take a Breather on Softer Chinese Export Demand

Soybean prices pulled back Friday after reports showed Chinese export demand was softer. Soybean export shipments were down 36% from the prior four-week average, with 14.9 million bushels.  The highs have been fueled by unseasonal buying on Brazil’s drought shortfalls earlier this spring. Beans are churning in a channel from ebbs and flows on general optimism over current supply and demand fundamentals. Soybeans Futures Highlights U.S. soybean futures closed Friday $0.10-$0.30/bushel lower. Cash soybean prices largely unchanged at processors and river … Continue reading “Soybean Prices Take a Breather on Softer Chinese Export Demand”

Wheat Futures Prices Tumbled 10% on The Week After Putin says Opening up Black Sea

Wheat prices fell hard on Friday after a Putin interview promising the shipping of Wheat exports, he blamed Ukraine, the US and the UK. He also never mentioned the effect of the war and praised Belarussia as a solution. While there is obvious trepidation in the reality the headlines triggered algorithm selling. Chicago and Kansas City futures ended $0.17-$0.20/bushel lower. Planting shortfalls in North Dakota and Minnesota appeared to put a base in the selling. Wheat Futures Highlights Wheat dipped … Continue reading “Wheat Futures Prices Tumbled 10% on The Week After Putin says Opening up Black Sea”

Wheat Futures Prices Influenced by Higher EU Poduction Numbers

Wheat prices rallied on Friday with the other grains into the long Memorial Day weekend but still finished down 1% on the week. Weakness came earlier in the week from the EU raising its soft wheat production estimates. Strength came from South Korea purchasing 4.6 million bushels of wheat sourced from the United States, Canada and Australia in a tender that closed on Thursday with one-third sourced from the U.S. Wheat Futures Highlights Wheat dipped 1.0% on the week (up 50% … Continue reading “Wheat Futures Prices Influenced by Higher EU Poduction Numbers”

Soybean Prices Rise Continues on Planting Pace Behind Expected

Soybean prices gains continue, back at levels from late February. Beans boost is coming from general optimism over current supply and demand fundamentals which also triggered technical buying. A recent USDA-ERS report shows soybean exports for fiscal year 2022 are up $1.0 billion from USDA’s prior February forecast which would be a record. Soybeans Futures Highlights July futures rose 6 cents to $17.3250 August futures up 3.75 cents to $16.6325 Soybean basis bids were mostly steady to soft across the … Continue reading “Soybean Prices Rise Continues on Planting Pace Behind Expected”

Wheat Futures Prices Pull Back with U.S. Priced Out of Key Global Markets 

Wheat prices slumped or the third straight session on Friday, down 2.5% to 3.25%. Selling came after the spike higher earlier in the week with India banning wheat exports. The move lower triggered by profit-taking triggered additional CTA technical selling and growing concerns American wheat is priced out of some key global markets right now. Wheat Futures Highlights Wheat surged 6.2% on the week and is up 53% ytd On Friday July Chicago SRW futures dropped 30 cents to $11.7050, … Continue reading “Wheat Futures Prices Pull Back with U.S. Priced Out of Key Global Markets “

Soybean Prices Rise on Sustained Export Optimism and Tight Domestic and Global Stocks.

Soybean prices gains over 0.75% on Friday while most of the grains complex sold off on economic and weather concerns. Beans are getting a boost from general optimism over current supply and demand fundamentals which also triggered technical buying.  Export optimism remains despite China’s attempts to knock down prices by auctioning off state soybean reserves. Chinese purchases of Brazilian soybeans jumped 120% above March’s tally, and China also imported 60.3 million bushels of soybeans from the United States last month. … Continue reading “Soybean Prices Rise on Sustained Export Optimism and Tight Domestic and Global Stocks.”

Soybean, Soyoil and Soymeal Prices Fall With Broad Commodity Selloff

Soybean prices were hit by a general financial market malaise Friday after the Omicron variant hit the airwaves and a broad range of commodities. Soybean prices closed around 1% lower. Soyoil futures were much weaker falling 3% lower, with soymeal losing around 0.5%. Soybean prices closed around 1% lower. January futures fell 13 cents to $12.53 and March futures fell 13.75 cents to $12.6350. Soyoil futures were much weaker falling 3% lower, with soymeal losing around 0.5%. Soybean basis bids … Continue reading “Soybean, Soyoil and Soymeal Prices Fall With Broad Commodity Selloff”