The Market November soybeans traded at a new intrasession contract low of 1031.75/bushel on Thursday, a four-year low, but then bounced back and closed at its high for the week. The big drop came on Monday and pricing has now stabilized. There is near-term support in that old crop soybeans and basis levels remain firm on domestic crush demand. Basis levels are now above the November contract. China is buying a lot of Brazilian soybeans but its economy and demand may not be as weak as believed if it is also now buying U.S. soybeans at these cheaper prices. And those prices will continue to err on the downside unless weather starts to look more threatening than it is currently.
This dynamic is even more stark for December soym...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
