Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Garrett Toay, AgTraderTalk, says grains saw technical buying led by wheat and surged to end the week. However, there were also some big fundamental drivers.
Scott Varilek, Kooima Kooima Varilek, says grains are rallying but cattle are seeing some selling pressure again ahead of a three day weekend but are holding chart support.
Rich Nelson of Allendale says grains closed quietly higher with corn and wheat supported by strong weekly exports.
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Mike Minor, Professional Ag Marketing, says the rally in corn was fueled by fund buying especially after inflation data in the CPI ran hot. Pressure in soybeans came from South American hedge pressure.
DuWayne Bosse, Bolt Marketing, says after a lower opening Wednesday corn recovered nicely on fund buying and a fresh export sale.
Brian Grete with Pro Farmers says grains sold off into the close Tuesday disappointed about the lack of changes in the domestic balance sheets in the WASDE.
USDA left domestic balance sheets for corn and soybeans unchanged in the February WASDE but did make slight revisions in South American production.
Farmers will need to be able to show farm records, receipts, delivery tickets, and any as-applied maps. Geo-stamp photos will also be required to prove the use of no-till and cover crops.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says corn held its own on Monday and closed higher, squaring ahead of the February WASDE.