Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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DuWayne Bosse, Bolt Marketing, says corn and wheat are seeing end of the month short covering and some pressure taken off now that First Notice Day is in the rear view mirror.
Vietnam has a 100 million people and a growing middle class looking to add protein to their diet. With limited soybean crushing capacity, the country currently depends on soybean meal imports for their livestock and aquaculture feed needs.
Allison Thompson with The Money Farm says a combination of bearish factors combined to pressure the grain markets Tuesday including the fast planting pace.
Despite wet weather, farmers are making serious progress with planting. Here’s an update on how the season is shaping up in Iowa, Minnesota, Wisconsin and Illinois.
John Heinberg, Total Farm Marketing, says corn and soybeans see pressure from the fast planting progress and an open weather forecast next week, plus first notice day positioning.
Alan Brugler, A&N Economics, says wheat and corn ended lower but soybeans rebounded after early pressure. Cattle made more contract highs.
USDA’s latest crop progress report puts the country at 24% of corn and 18% of soybeans in the ground. Farmers are sharing timely rains and great conditions to start the season.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”