Soybean News
The latest soybean commodity market news and insights for soybean producers and agribusiness.
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Brian Grete, Pro Farmer, says grains see a healthy correction on profit taking after hitting resistance. Cattle continue to recover with the S&P but for how long?
As of April 13, USDA says 13 states have started planting corn and 10 are working on soybeans. The report calculates 4% of corn and 2% of soybeans are in the ground so far.
Brad Kooima, Kooima Kooima Varilek, says cattle are seeing followthrough buying and strength Monday morning as the S&P 500 continues to stabilize and recover after the tariff delays.
Bryan Doherty, Total Farm Marketing, says the way the markets shook off the escalating trade war with China was impressive but it will take several factors converging to keep the momentum going.
The tit-for-tat on tariffs between the U.S. and China continues, with China announcing on Friday a new rate of 125%, which is up from the 84% announced earlier this week. That pushes the tariff on U.S. pork and pork variety meat to 172%. The new soybean tariff is more than 150%.
Mark Schultz, Northstar Commodity, says the ag markets have handled the escalation of the trade war with China remarkably well this week.
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Chip Nellinger, Blue Reef Agri-Marketing, says corn and soybeans ended higher with lower ending stocks in the WASDE as corn fell below the 1.5 billion bu. mark.