Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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The January USDA reports have been historically a huge market mover and a great deal of the focus will be on final yields and production.
South Dakota Governor Larry Rhoden announced the $900,000 Future Fund grant for the non-profit bioprocessing facility at South Dakota State University.
Tommy Grisafi with Nesvick Trading says the soybean market faded after hitting chart resistance but also seemed disappointed with the lack of confirmed China export business. The grain complex also saw report positioning.
Prioritizing projects with a clear path to fast returns and lower costs can help you weather current economic challenges, say ag industry experts.
The grain markets were mixed early Thursday squaring ahead of the USDA reports. DuWayne Bosse with Bolt Marketing says that could keep the markets quiet the next few sessions.
Garrett Toay with AgTraderTalk attributes the rally mostly to corrective buying after a $1.40 break from the highs in soybeans. Traders are also short in the wheat market, which just came off of contract lows in SRW futures.
Confirmed populations of glufosinate-resistant waterhemp are in Illinois with suspected resistance reported in at least six other states. Weed scientists say how farmers respond now will determine how long the chemistry remains a reliable tool.
Darin Newsom, senior market analyst with Barchart, says the grain complex may be some rebalancing by hedge and index fund traders to start a new year and with grains under valued.
Chip Nellinger with Blue Reef Agri-Marketing says soybeans sold off in a classic “buy the rumor, sell the fact,” reaction to USDA confirming China export sales.
Research and polling suggests the money will go toward operating costs, paying down debt, and not be eyed for machinery purchases.