Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
Click here to view today’s soybean prices.
USDA’s Economic Research Service (ERS) will provide an updated 2024 net farm income forecast on Thursday. Economists say the net farm income picture would look even worse it weren’t for improved livestock prices.
Bryan Doherty, Total Farm Marketing, shares what he’s looking for this week in the markets to prove last week’s higher closes in the grains wasn’t just a head fake or a bear trap.
Bryan Doherty, Total Farm Marketing, says while the technical action in the grain markets was encouraging grains need to close higher again next week for confirmation. Cattle and hogs also closed higher Friday and for the week.
Scott Varilek with Kooima Kooima Varilek says long term continuation charts for live cattle still look positive. Corn and soybeans could post higher weekly closes but he thinks it might be a bear trap.
Corn and soybeans rally Thursday putting in some weather premium but may have reached a value level which is uncovering strong end user demand.
Jeff Hoogendoorn, Professional Ag Marketing, says corn and soybean may have dialed in the biggest yield and with hot dry weather trimming yield and demand picking up the markets could see more buying.
FAPRI Updates Ag Baseline Projections, Painting a More Negative Picture for Soybean Prices Than USDA
In the absence of new shocks to the weather, the macroeconomy or policy, FAPRI projects prices will generally remain near current levels over the next five years.
Cattle set back on lower early cash and cutouts, while hogs turn mixed after early gains tied to strong weekly exports.
Agricultural imports are expected to reach a record $212 billion, up $8 billion from FY 2024. This increase is largely due to rising imports of horticultural products, sugar and tropical products.
Based on trials conducted at the University of Illinois Urbana-Champaign, postdoctoral researcher Connor Sible shares tips for getting the most out of your bean crop.