WASDE Shocker This week started with a bang and ended on a whimper. November soybeans rallied 76 cents/bushel after USDA’s September WASDE report on Monday made significant and unexpected adjustments lower in U.S. and world soybean supplies. Here were the key points:
U.S. new crop soybean harvested area, yield, production and ending stocks were all lowered. U.S. soybean production is down 6.6 percent year-on-year, and ending stocks are now at the lowest level since 2015/16 with a stocks-to-use ratio of 4.5 percent. World soybean ending stocks were revised lower by 2.4 percent.
Here are some longer range graphs to put it all in perspective:
The funds were caught flat-footed since going into the report they were at...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
