WASDE Surprise Oops, they did it again! The trade thought USDA would cut the soybean yield and instead the August WASDE increased it from July’s 51.5 bushels/acre to 51.9 bushels/acre. Reuter’s reporter Karen Braun says this is par for the course. The August WASDE often ends up having surprising numbers because the pre-report poll of analysts has missed the mark for the past 9-years. Though she notes that the outside analysts get the last laugh since they have been closer than USDA to the final season numbers more than half the time.
Pre-report, futures were trading soybeans up by 8-12 cents, meal by $7.50 to $8.50, and soyoil by 15-25 points. Post the report, beans were down more than a quarter, meal -$4.50 and soyoil...
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...
