Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
Click here to view today’s soybean prices.
Carmi, Ill., farmer Chase Sailer isn’t afraid to do things different. He learns from failures on the farm and is turning to precision tools to drill down decisions to every acre.
The CR includes nearly $110 billion in disaster and farmer aid, which includes $10 billion in farmer aid and $21 billion ag disaster aid. $2 billion of that disaster aid is specifically for livestock producers. The measure also includes a one-year extension of the 2018 Farm Bill.
Jerry Gulke, president of the Gulke Group, says the weekly continuation chart corn is trading above the October high, the 50-day and the 200-day moving average. “The chart is telling us to have a little patience in this uptrending market,” he adds.
Chip Nellinger, Blue Reef Agri-Marketing says soybeans recovered off Thursday’s new contract lows on fund short covering and profit taking, plus market talk that China was in buying soybeans. Corn put in the highest weekly close in six months.
Grain markets are seeing value and technical buying but Kent Beadle of Paradigm Futures says the rebound in soybeans is supported by a recovery in the Brazilian Real.
Sponsored
Should Septoria brown spot be treated with fungicides? Learn how external conditions, disease severity and more determine the economic viability of fungicide treatments.
Scott Varilek of Kooima Kooima Varilek says soybeans see a dead cat bounce off contract lows Thursday. Meanwhile, cattle futures end lower despite good early cash news. So is this topping action?
Darin Newsom, Senior Market Analyst with Barchart, says soybeans are trying to stage a dead cat bounce after making new contract lows, along with soy products. The stock market is also trying to recover.
The same week Congress released the proposed CR that included $31 billion in aid for producers, a Farm Journal poll asked farmers for their thoughts on whether Congress should pass economic aid.
The stopgap deal to avoid a government shutdown includes $10 billion in direct payments for farmers, $21 bllion in ag disaster aid, a one-year extension of the 2018 farm bill and year-round E15.
What’s ahead for the grain prices the last few weeks of 2024? Rich Nelson with Allendale, Inc. says historical and seasonal tendencies are at play in the grain markets. However, South American weather will also be a focus.
Pro Farmer Editor Brian Grete, says soybeans fell with rain in Brazil and big crop forecasts, plus a disappointing NOPA crush report.
Brad Kooima, Kooima Kooima Varilek, says grains try to hold early gains. Nearby live cattle futures made new highs for the move pushed by sharply higher cash in the North at mostly $196, the South was at mostly $191.
Agricultural groups said over the weekend they do not support year-end spending package sans economic aid for ag producers.
Jerry Gulke, president of the Gulke Group, says after the 200 million bushel cut to corn ending stocks in the December WASDE he wonders if USDA is preparing the marketplace for more of the same in the final January report?
Oliver Sloup, Blue Line Futures, says corn saw continued technical selling and profit taking after the inability to take out chart resistance.
Randy Martinson, Martinson Ag, says soybeans are seeing profit taking on South American weather and despite another 7.3 million bu. of export business this morning,
Bryan Doherty, Total Farm Marketing, says corn ended lower on a combination of profit taking and farmer selling after running into chart resistance.
Mark Schultz, NorthStar Commodity, says corn and soybeans are overbought and failed to get above resistance on the charts which is triggering profit taking. Live cattle make new highs for the move on sharply higher cash trade.
Alan Brugler of A&N Economics, LLC says corn started higher still digesting the bullish cut to ending stocks in the December WASDE but ran into chart resistance.
Kent Beadle, Paradigm Futures, says grains are extending gains from Tuesday on technical and fund buying as the markets. The markets are still digesting the bullish USDA report data for corn and even wheat.
Go over these helpful pointers if you’re planning to build new grain bins or expand your current storage setup in 2025.
Darren Frye, Water Street Solutions, says grains close higher after the WASDE and USDA’s surprise cut in corn ending stocks by 200 million bushels.
Matt Bennett with AgMarket.Net says the agency shocked the market in the December WASDE by lowering ending stocks on corn 200 million bu. to 1.738 billion bu., with an increase in demand.
Sponsored
Set yourself up for your highest soybean yield potential by focusing on these key pre-season strategies.
Arlan Suderman, Chief Commodities Economist for Stone X, says corn and wheat ended higher on value buying after wheat hit contract lows last week. Soybeans continue to be under pressure with favorable weather in Brazil and basis levels below the U.S.
Brad Kooima, Kooima Kooima Varilek, says cattle are working in last week’s higher fed cash cattle trade. Grains are also mostly higher adding geopolitical risk premium and ahead of the WASDE.
The first full week of trading in December can be enlightening and Gulke Group president Jerry Gulke says this year is no exception, especially after the 2024 election. However, he thinks the bulk of the bearish news may be priced into the corn market.
Sponsored
How can scouting optimize your integrated pest management (IPM)? Discover how to maximize the effectiveness of IPM by addressing damaging and beneficial pests.
Bryan Doherty, Total Farm Marketing, says March corn sees a chart breakout Friday above $4.35 and posts a higher weekly close, pricing in strong demand and lower expected ending stocks in Tuesday’s WASDE.