Exports: Soybeans plummet to marketing year low
Tight spot markets and a positive basis continued supporting soybean futures Wednesday morning; however, reported unwinding of soybean/corn spreads and technical selling of the nearby contracts apparently dragged bean futures downward.
Overnight tight spot markets and a positive basis continue supporting soybean futures in the face of negative developments. Traders talk of slowing Chinese demand and increased availability of South American product, while bulls can argue that improved early-May weather will accelerate corn plantings and potentially reduce soybean acreage later in the spring. May soybeans advanced 11.0 cents to $14.15/bushel early Thursday morning, while May soyoil surged 0.39 cents to 49.57 cents/pound, and May meal climbed $2.8 to $408.7/ton.
|REPORT||THIS WEEK||LAST WEEK||DIFFERENCE|
|SALES||10 WEEKS||27 WEEKS||THIS YEAR|
- EIA expects global oil consumption to grow in 2014
- Soy, wheat markets surged Tuesday
- Work underway to improve malting barley quality
- Commentary: Water police, part two: EPA proposal won't help ag
- Ukraine-Russia situation apparently boosted wheat futures again
- New and cool thought-leadership opportunities with LinkedIn
- Commentary: Blame anti-GMO groups for deaths
- Julie Borlaug says biotech is necessary in fight against hunger
- What does “sustainable” food and agriculture really mean?
- Climate change will reduce crop yields sooner than we thought
- Ohio bill to require certification to apply fertilizer
- Carbon-dioxide hurts nitrogen assimilation by plants