Markets - General
Brazil was looking at $10 soybeans at the start of their planting last fall. What if prices are $13 this fall?
How high will prices go? How long will the high prices last? What is behind this rally? Here are some of the factors at play.
The CME Group announced after a routine biannual review, it has decided to expand daily price limits for Chicago Board of Trade grain and soy futures.
The domestic demand story is providing fuel to the markets as strong basis is part of what helped drive the markets higher this week. Marketing analysts on U.S. Farm Report discuss the market action this week.
As old crop soybean prices soared past $15 this week, experts say there is concern about a shortage of soybeans with emotion and lack of farming selling providing fuel for the markets this week.
Commodity prices continued to race higher on Thursday, with corn trading the limit higher. Soybeans and wheat also saw prices surge higher with double-digit moves.
Brazil just keeps breaking records. For 2020/21 the country’s soybean production is forecast at a record 4.98 billion bushels, which is up 8.6% from last season’s record crop.
U.S. corn and soybean futures climb to multi-year highs and wheat futures are up on tight supplies and weather woes.
Tuesday was another dynamic day in the grain markets. Soybean futures hit contract highs and nearby corn futures climbed above $6. Clinton Griffiths discovers what’s behind the market moves.
West Texas farmer Blake Fennell says if rains don’t hit West Texas fields in the next month, it’ll be devastating to the area’s cotton crop with the outlook for cotton acre abandonment already high.