soybean futures brokers

soybean futures brokers

May 31st, 2016

Can soybean futures regain $11 a bushel, for the first time since September 2014?

They weren’t quite knocking on the door in early deals in Chicago, but were well up the garden path, hitting $10.96 a bushel, for the July contract, before easing back to $10.89 ¼ a bushel as of 08:35 UK time (03:00 Chicago time), a gain of 0.3% on the day.

It may have helped that risk assets were broadly putting on a firm performance as May headed for a close, with Shanghai shares adding 3.0% and Tokyo stocks closing up 3.0%, while oil futures made some headway too, particularly WTI crude, which gained 0.7% to $49.68 a barrel.

But the key reason cited for strength in soybeans was, as ever, worries over the rain-ravaged crop in Argentina, the third biggest exporter of the oilseed, and the top shipper of the processing products, soymeal and soyoil.

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corn futures quotes

corn futures quotes

June 9th, 2015

Soybeans followed corn in attracting concerns that US farmers might not complete sowings programmes after official data showed seedings falling behind the average rate, with marked shortfalls in some states.

Data overnight from the US Department of Agriculture showed the strong start to the country’s soy sowing season had foundered, with plantings, at 79% complete, 2 points behind the average.

A month before, sowing were, at 31%, 11 points ahead of the typical pace.

The slowdown reflected in particular setbacks in a central Midwest growing belt of Nebraska and, in particular, Kansas and Missouri where heavy rains have slowed fieldwork to a crawl.

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soybean futures 101

soybean futures 101

November 25th 2014

Soybean futures advanced for a third session in four, rebounding from a slide yesterday, amid signs of demand for U.S. supplies as farmers in the top producer near completion of a record harvest.

U.S. exporters sold 235,000 metric tons of soybeans to China for delivery by Aug. 31, the U.S. Department of Agriculture said yesterday. Export inspections in the week ended Nov. 20 were 52 percent higher than a year earlier, the agency said. About 97 percent of the record 3.958 billion bushel crop was harvested as of Nov. 23, USDA data show.

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soybean futures quotes

soybean futures quotes

November 21st, 2014

Soybean futures advanced on indications of sustained demand for U.S. supplies of the oilseed, while wheat and corn futures declined.

U.S. shippers sold 140,000 metric tons of soybeans to unknown buyers, the U.S. Department of Agriculture reported yesterday. Soybean meal net export sales were 265,749 tons in the seven days through Nov. 13 from 39,637 tons a week earlier, according to the USDA’s weekly report.

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soybean futures quotes

soybean futures quotes

October 28th, 2014

Soybean meal futures advanced to a four-month high as meat prices close to a record spurred demand for animal feed to fatten hogs and chickens.

Futures rose as much as 6.1 percent to $399.80 per 2,000 pounds on the Chicago Board of Trade, the highest since June 23, before trading at $388.70 at 6:30 a.m. local time. Prices jumped 7.6 percent yesterday, the most since 2007.

Wholesale pork, chicken and beef prices have climbed to records this year, contributing to an October rally in soybeans, meal and grains used to feed livestock. Retail pork chops and bacon increased to all-time highs in 2014 after the hog herd was reduced by a deadly virus. About 42 percent of U.S. soybean production is made into food for animals.

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soybean futures quotes

soybean futures quotes

October 22nd, 2014

Soybean futures rose to the highest in more than a month in Chicago as traders weighed concerns about dry weather in Brazil and slow harvesting in the U.S.

U.S. farmers had collected 53 percent of crops in main growing areas as of Oct. 19, behind the average pace of 66 percent, the U.S. Department of Agriculture said. While wet weather recently delayed fieldwork, conditions are expected to be drier this week in most areas, according to DTN. Brazil, the biggest exporter, is facing planting delays because of dry weather. Growing areas may see scattered showers late this week, DTN said.

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soybean futures

soybean futures

August 4th, 2014

Soybeans headed for the largest gain in a week on concern that dry Midwest weather is eroding crop quality just as demand increases for supplies from the U.S., the world’s top grower. Corn and wheat also rose.

About 70 percent of the soybean crop was probably in good or excellent condition as of yesterday, down from 71 percent a week earlier, a Bloomberg survey showed. Exporters sold 110,000 metric tons to China and 102,000 tons to Taiwan for delivery in the 12 months starting September 1, the government said today.

“Rains were a little disappointing over the weekend,” Phyllis Nystrom, a risk manager at Country Hedging Inc., said in a telephone interview from Inver Grove Heights, Minnesota. “Then the new sales gave it a little extra bump.”

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soybean futures

soybean futures

July 23rd, 2014

Soybean futures rose from a 45-month low on concern that some areas will face adverse weather in the U.S., the world’s largest grower. Corn extended a slump to the cheapest in four years, and wheat climbed.

Rain will be limited in the southwest Midwest in the next two weeks, raising the odds of stress for soybeans, Donald Keeney, a meteorologist at MDA Information Systems Inc. in Gaithersburg, Maryland, said a telephone interview. The U.S. Department of Agriculture said this week that 60 percent of the crop bloomed as of July 20, topping the prior five-year average.

“The most important phase is right in front of us during the pollination period,” Louise Gartner, the owner of Spectrum Commodities in New Richmond, Ohio, said in a telephone interview. “While the weather forecast is good, the market is just playing it cautious.”

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soybean futures

soybean futures

June 26th, 2014

Soybean futures climbed for a second day in Chicago as a jump in U.S. exports added to supply concerns amid declining stockpiles and flooding in parts of the nation’s Midwest region that may curb yields.

U.S. shippers sold 317,200 metric tons of the oilseed for delivery before Aug. 31, the most since the last week of February, the Department of Agriculture said today. Total sales since Sept. 1 are up 24 percent from a year earlier, above the 20 percent increase forecast by USDA this year, agency data show.

“Exports sales were better than expected and that means tighter supplies before the harvest,” Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis, said in a telephone interview. “People are speculating that too much rain may cut planted acreage and take the top end of U.S. soybean yields.”

Soybean futures for November delivery rose 1 percent to $12.4125 a bushel at 11:39 a.m. on the Chicago Board of Trade. Prices climbed 0.4 percent yesterday.

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soybean futures charts

soybean futures

May 22nd, 2014

Soybean futures climbed to the highest level in more than 11 months in Chicago on speculation that demand for livestock feed will increase in China amid rebounding prices for eggs and pigs. Corn also gained.

Chinese processors last week ordered about 600,000 metric tons of soybeans for shipment after Sept. 1, according to a Bloomberg News survey. Since April 1, Chinese egg prices surged 26 percent while hogs increased 20 percent, according to data from Shanghai JC Intelligence Co. As bird flu and slumping pork prices curbed demand for soybean meal used in feed earlier this year, a U.S. industry group said last month that China was at risk of defaulting on some soybean imports.

“The market concern for Chinese demand has diminished, with improving conditions evident,” Australia & New Zealand Banking Group Ltd. analysts including Paul Deane wrote in a report today. “Chinese domestic prices for pork, soybean meal, corn and wheat have all rallied in the last month.”

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