Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Brad Kooima with Kooima Kooima Varilek says he was concerned the trade might view a slightly bearish Cattle on Feed report placement number as a reason to sell but the market was more focused on the higher cash trade Friday.
Pro Farmer economist Lane Akre says at the current corn to soybean price ratio and with market conditions, soybeans need to buy some additional acres.
Grain markets closed strong on Friday and posted higher weekly closes across the complex. What drove the rally? Jim McCormick of AgMarket.Net points to a few notable factors.
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Live and feeder cattle futures were weaker to start Friday as the market was seeing some profit taking and caution ahead of the USDA Cattle on Feed Report according to Scott Varilek with Kooima Kooima Varilek.
Randy Martinson with Martinson Ag says wheat saw support on a combination of technical buying or short covering and the market was adding some weather premium.
Soybeans continued to rally on Thursday. Lane Akre, economist with Pro Farmer, says this isn’t just short covering.
Greg McBride with Allendale, Inc. says hot, dry weather is expected in much of Argentina and Southern Brazil in the next 10 days and it is hitting at the critical pod filling stage for some of the soybean crop.
Soybean futures are higher early Wednesday with the easing of risk-off selling pressure.
Grains futures consolidated on Tuesday with risk-off selling tied to outside market concerns regarding possible EU tariffs and retaliation according to Oliver Sloup with Blue Line Futures.