Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Bryan Doherty, Total Farm Marketing, says soybeans extended gains off of Wednesday’s reversal on technical buying and short covering but with hopes of a China deal. The trade aid announced will also keep farmer selling at a minimum.
The government is shut down for a second day and so are no reports from USDA, including weekly export sales or flash sales. So what are the grain markets trading?
Herbicides and defoliants are commonly used by farmers in southern regions to quicken the harvest period and reduce the risk of shatter loss and poor test weights. Now, Midwest growers and researchers are looking at how to use the practice.
Randy Martinson with Martinson Ag says grains started lower Wednesday on the government shutdown but soybeans reversed higher after President Trump’s social media post on China.
Company leaders say the separation will unleash two distinct market leaders that are both farmer-centric, with technology and innovation at their core.
Dan Basse, Ag Resource Company, says corn stocks were 207 million bu. above USDA’s projected ending stocks which was bearish for the market. Soybeans also made new lows for the move despite a slightly friendly report.
While the Trump administration weighs an economic bailout for farmers that would use tariff income, groups like ASA continue to press for better market opportunities and a trade deal with China, in particular.
At the Reints farm in northeast Iowa, corn yields have been running higher than last year, but a lot of yield potential was left in the field due to disease, specifically a rare strain of southern rust.
Mike Minor with Professional Ag Marketing says soybeans saw hedge pressure with a dry open weekend for harvest across the Midwest but corn also hit chart resistance.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday. The cash feeder market has continued to move higher, so will it be able to lead the cattle futures back to new highs?