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...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
