Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Brian Splitt with AgMarket.Net says new crop corn fell to contract lows after the August WASDE in reaction to USDA’s eye-popping 188.8 bushel per acre corn yield. However, soybeans rallied with ending stocks falling under 300 million bushels.
If USDA predictions hold true, a massive U.S. corn crop is on the way.
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Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were lower on China disappointment. Lean hogs continue to be supported by lower slaughter figures which could be a tailwind into 4Q.
Dan Basse, president, Ag Resource Company, says there is no evidence China is buying U.S. soybeans. In fact, the U.S. could miss the fall export window with the 90-day extension of the tariff truce.
Arlan Suderman, chief commodities economist with StoneX, Inc., says soybeans led the rally with nearly 24-cent gains in November on hopes for China export business. But the market may have gotten ahead of itself.
Brad Kooima of Kooima Kooima Varilek says there were signs in the cattle market prior to Friday’s sell-off indicating the market might be getting toppy. However, does the market negate the reversals like it has in the past?
Joe Glauber, senior research fellow with the International Food Policy Research Institute, says the trade imbalance may not be as concerning as it looks on the surface.
President Trump is urging China to buy more U.S. soybeans as they face a shortage, but analysts say quadrupling soybean orders is ‘highly unlikely.’
Grain markets failed to extend Thursday’s gains after hitting chart resistance and fear of record yields in the Aug. 12 WASDE. However, Shawn Hackett of Hackett Financial Advisors, says the market may have already priced in the biggest yields.