Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Ken Ferrie uses a green-yellow-red “signal light” system to help farmers evaluate their planting decisions in the week ahead.
Allison Thompson with The Money Farm says corn and wheat saw some end of month profit taking Thursday, but it is a healthy correction.
Chip Nellinger with Blue Reef Agri-Marketing says it’s end of the month, so he chalks this up to some routine profit taking and farmer selling.
Shrinking equity, rising nitrogen costs and continued global upheaval signal a reckoning for corn growers and a shift to soybeans — especially if higher biomass-based blending diesel mandates come through.
Dave Chatterton with Strategic Farm Marketing says the grain markets were supported by money flow and funds were buying adding risk premium tied to war, inflation fears with soaring energy prices and weather.
Grains were higher Wednesday with new contract highs in hard red winter wheat and December corn according to Mark Knight with Farmer’s Keeper Financial. Live cattle were also making new highs on record cash.
Randy Martinson with Martinson Ag says the wheat market is adding risk premium tied to weather and global production and geopolitical concerns and could continue to pull corn higher.
With one survey showing 48% of Midwest corn and soybean growers are unable to afford traditional fertilizer sources, Extension and industry are responding with nutrient options that can lend support.
Lane Akre, economist with Pro Farmer, says says the wheat market could take out the March highs and help pull corn higher. He thinks markets are trading global production concerns.
The grain and livestock futures saw commodity wide fund buying with a risk on tone to the market according to DuWayne Bosse with Bolt Marketing.