Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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John Heinberg, Total Farm Marketing, says corn and soybeans see pressure from the fast planting progress and an open weather forecast next week, plus first notice day positioning.
Alan Brugler, A&N Economics, says wheat and corn ended lower but soybeans rebounded after early pressure. Cattle made more contract highs.
USDA’s latest crop progress report puts the country at 24% of corn and 18% of soybeans in the ground. Farmers are sharing timely rains and great conditions to start the season.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”
Don Roose, U.S. Commodities, says grains had a quiet day as they were also consolidating around strike prices as it was May option expiration.
“Sunlight drives photosynthesis, which drives starch production, which drives yield,” explains Ken Ferrie. If sunlight hits the ground, it’s wasted, so maximizing sunlight capture requires closing rows as quickly as possible.
Darin Newsom, Senior Market Analyst with Barchart, Inc., tries to explain the higher day in the grains, especially soybeans, with the bearish Chinese trade news. So, what drove the rally?
Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.
Before the White House’s 90-day pause on higher tariffs for other countries expires on July 9, India is one country rushing to negotiate a trade deal with the U.S.