Soybeans Rally on Rumors of Chinese Export Sales: Soybean futures rallied to strong gains on rumors that China was actively bidding for US new crop soybeans. August soybeans led the rally and gained 60 cents and November gained 48. Soybean meal led the soy complex higher, with August gaining $32/ ton, reaching a new contract…
Soybeans Slide on China Military Drills, Rumors that Argentina Would Offer a New Program to Boost Farm Sales: Soybean meal paced Wednesday’s decline amid the Argentine incentive rumors. Soyoil followed the sharp decline in crude oil following OPEC’s August meeting in which production was raised slightly. Brazilian fob premiums jumped sharply higher on today’s Chinese…
Soybeans Continue Lower on House Speaker Pelosi Visit to China: Follow-through technical selling weighed on soybean futures on Tuesday. Soybean meal gained $2-5 while soybean oil paced the CBT decline and followed palm oil lower, even as US crude oil traded higher. Brazilian trade data for July showed soybean exports totaled 7.5 MMTs. This was…
Soybeans Fall on Pelosi/China Worry: Soybean futures were sharply lower in a bearish macro-Monday trade. The hard break in crude oil along with elevated political emotions as House Speak Pelosi is set to visit Taiwan – against China’s ardent warnings – left traders to exit last week’s purchases. August soybean futures fell a sharp 43…
Soybeans Post Decade-High Weekly Rally: Soybeans marked another strong close on Friday gaining 25-30 cents for the day. Soybean oil again led Friday’s advance amid a bullish biofuel outlook and a recovery in energy prices. For the week, August soybeans gained $2.02/Bu which is a record large 1-week price increase. August has fully recovered all…
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