El Niño means little boy in Spanish. The fishermen in Latin America observed periods of unusually warm water in the Pacific Ocean in the 1600s around Christmas. El Niño can cause 50% variation in local weather in regions growing essential crops like beans, corn, and coffee.
Soybean is a giant in global trade. It ranks among the top comprising more than 10% of the...
The CBOT SOYBEAN FUTURES continues performing perfectly as anticipated , After the completion of wave B, the market reversed down to complete the wave C and reached so far 1292.5 down from 1409.5.
Soybeans
News
• U.S. National Oilseed Processors Association (NOPA) data on Friday showed U.S. soybean crush fell to an 11-month low in August, below almost all trade estimates. Weak crushing demand comes as U.S. exports struggle to compete with record Brazilian shipments.
• Last week’s USDA report showed a national average soybean yield of 50.1 bushels per...
If inflation exists at all but in the playbook of vested interests, to maintain sky-high prices in the grains will require much more than just the reliance on the traditionally levity-laden relationship of the mainstream media with the facts.
The fact remains that the world has been in a food production overdrive for many moons by now.
Even a makeshift operatic...
The November soybean market has been on a nice uptrend since the lows from August 8th, and we are seeing some selling coming after we topped out near 1409-5. Looking on the fundamental side, there is concerns for the continued hot and dry weather headed into next week which would support higher process, and the Mississippi water levels continue to decline, having...
There are a few factors that have contributed to the recent decrease in soybean prices.
A record crop is expected in the United States. The US Department of Agriculture (USDA) is forecasting a soybean production of 122.7 million tonnes in 2023, which would be a record high. This is due to favorable weather conditions and an increased area under cultivation.
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Soybeans gapped higher Sunday night following Friday afternoon's release of the Pro Farmer Crop Tour findings.
Wait...what the heck is the Pro Farmer Crop Tour?
It's pretty much what it sounds like, but probably on a bigger scale than what you're thinking. Over the course of 4 days crop scouts (including myself) pulled a Pro Farmer record 1,800 samples of...
Chicago Board of Trade soybean futures ended lower on Tuesday after the U.S. government increased its crop condition rating more than expected.
I am expecting that the price will go higher in short period of time based on the uprising channel formation.
November soybean prices (ZSX2023) have been hit hard after failing to get out above significant resistance in the last week of July. We’ve previously outlined that resistance pocket in our daily reports as 1427 ¾-1435, which has been a brick wall for the market dating back to the spring of 2022. Since the recent technical failure, prices have retreated nearly...
Grains have been on a pullback since the last WASDE and we have another one coming up in a couple of weeks when stocks and demand will all be forefront in how much more prices could hold and go higher. The weekly CoT report from the CFTC showed net new buying and short covering from the soybean spec traders during the past week. That throws the the net longs for...
Soybean futures prices are continuing to grind higher in the early morning trade, taking prices back towards the upper end of the recent range with more significant resistance coming in near the psychologically significant $14.00 level. We continue to believe the Bulls have the technical advantage so long as the Bulls continue to defend 1315-1320. A break and...
Soybeans have certainly caught our attention as a classic head and shoulders pattern has emerged, suggesting a possible trend reversal. This implies a potential drop equivalent to the height from the head to the neckline, taking us towards the 900 level. Could this be signalling more downside in the soybean market?
The current price action is intriguing as an...
