Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Grains are quiet Tuesday morning. Volume is light as we are into holiday trading already says DuWayne Bosse of Bolt Marketing.
Planning for next season? Review the expert insights and recommendations from farmers and field agronomists on how to reduce costs and strategically reallocate resources.
Arlan Suderman with StoneX, Inc. says some of Monday’s buying was tied to money flow and end of the year profit taking he says. The higher energy market was also supportive of the grains.
Live and feeder cattle futures made new highs for the move Monday morning after a strong close Friday and higher weekly closes. However, the big catalyst is the bullish USDA Cattle on Feed Report data according to Rich Nelson of Allendale, Inc.
As he awaits official per-acre payment rates from USDA, Jerry Gulke is leaning toward soybeans versus corn, saying the estimated $46-per-acre corn payment is woefully inadequate and “like a bridge to nowhere.”
Jim McCormick with AgMarket.Net says the slide in soybeans has been a result of prices getting too high in anticipation of the China trade deal. Now prices are lower than before the purchases were announced. He’s hopeful a low is close.
Another set of estimates have been released to divvy up the $11 million earmarked for eligible row crop producers. Payments range from $21 per acre for barley to a high of $134 per acre for rice.
Scott Varilek, Kooima Kooima Varilek says live cattle futures are higher despite some lower Northern cash trade. However, this week the trend has been sideways with the market unable to take out chart resistance.
Ted Seifried with Zaner Ag Hedge says rumors of China purchases circulate nearly every time the corn market rallies.
Darin Newsom, senior market analyst with Barchart, Inc. says corn is seeing some short covering but demand has also been a factor with ethanol production at a record level this week and exports continuing to run at a record pace.