Lower overnight trade set the tone for the rest of the day and left soybean prices 5-8 cents lower on Monday. Commodity fund traders were estimated sellers of 4,000 soybean and 1,500 soymeal contracts, and buyers of 500 contracts in the soyoil market. As had been expected, the weekly Crop Progress report showed limited…
Estimated Chinese crush margins in the cash market have ranged from mildly profitable to deep in the red over the last several months, depending on location and basis relationships while futures based crush spreads between Chicago and Dalian have held well over last year since October. Despite the less favorable cash estimates, Chinese soy processor…
** It has been a morning of weakening CBOT prices with corn, soybeans and wheat all sliding in moderate volume. The USDA May report looms on Wednesday, but the big driver of price has been the improved weather pattern and advancement of seeding across the N Plains and the NW Midwest. Flooded areas of the…
On Apr 11, USDA pegged Brazil’s soybean crop at a record 111 MMT, up 3 MMT from their previous projection. In addition, USDA projected local marketing year (Feb-Jan) soybean exports at a record 63.6 MMT, up 1.4 MMT from their previous projection. USDA will release revised a revised S&D for Brazil on Weds (and their first…
The week 2-4 forecast reverses the big chill next week to a very warm scenario into early June.
