Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Jerry Gulke, president of the Gulke Group, says private estimates for national corn yield range from 182 to 186. However, he expects a bearish report because yields may be higher than expected.
Soybeans bounced on Friday and were up Matt Bennett with AgMarket.Net says to go back and retest this week’s highs or move to new highs soybeans will need to see proof of China purchases.
Farmers wanting to hang onto the soil moisture in their fields are struggling to address compaction and ruts where there has been little to no recent rainfall. Anhydrous ammonia applications are also difficult to get sealed in fields where moisture is minimal.
Scott Varilek of Kooima Kooima Varilek says the cattle market is seeing a short covering or technical bounce after an ugly down week. So is the fund liquidation done yet or is this a dead cat bounce?
Ted Seifried says the ag markets saw risk off selling across the commodity board and profit taking in the grains after the recent rally. But with the volatility in the soybean market is this topping action?
Growers say they remain cautiously optimistic and believe the U.S. is “headed in the right direction.” But they want the gridlock with China to end and for actual steps to be taken to get their crops sold and shipped.
Darin Newsom, senior market analyst with Barchart, Inc., says commodity wide selling is hitting the grain and livestock futures early Thursday and some of it is tied to uncertainty regarding the future of tariffs.
Mark Knight, Farmer’s Keeper Financial says,"China did keep 10% tariffs in place. So,it’s really a 13% total tariff for incoming soybeans. Argentina and Brazil get charged 3%. And so we’re still 10% higher than that.”
January soybeans rallied $.13 on Wednesday as China dropped it 24% retaliatory tariffs imposed on U.S. ag goods March 4 for one year.
As crops go into bins, growers will be looking to maintain quality until their marketing opportunities improve. Some ongoing management practices are vital to the process.