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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soybean brokers

soybean futures

April 23rd, 2014

Soybeans fell to a one-week low to head for the longest slump since July amid concern that demand will decrease in China, the world’s biggest importer.

Futures for July delivery lost as much as 0.4 percent to $14.65 a bushel on the Chicago Board of Trade, the lowest level for a most-active contract since April 15. Prices were at $14.655 by 12:55 p.m. in Singapore, declining for a fourth straight session.

The pace of soybean exports from the U.S. and South America will probably slow through the end of the season as Chinese demand declines because of ample stockpiles, according to Oil World. There are reports that China will soon auction 3 million metric tons of state reserves, which equates to roughly one-third of total inventories, Commonwealth Bank of Australia said in a note today.

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soybean brokers

soybean futures

September 25th, 2013

Soybean futures rose for a second day after a U.S. government report showed rains in the Midwest last week failed to bolster crop conditions in the country, last year’s biggest producer of the oilseed.

Crop conditions were unchanged as of Sept. 22 from a week earlier, with 50 percent of soybeans rated good or excellent, U.S. Department of Agriculture data show. Rain later this week in west and central areas may be too late to aid crops, forecaster DTN said.

Soybean futures for November delivery rose 0.6 percent to $13.1975 a bushel on the Chicago Board of Trade at 5:40 a.m. Prices dropped to $13.0525 yesterday, the lowest since Aug. 23, before closing 0.4 percent higher.

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soymeal futures

soybean futures

September 19th, 2013

Soybean futures rose for a second day in Chicago after the U.S. reported its fifth-biggest sale on record in an accord with China, the leading importer of the oilseed.

Exporters sold 1.93 million metric tons to China for delivery by Aug. 31, the U.S. Department of Agriculture said yesterday. Soybeans rallied 17 percent from the lowest in almost 19 months in August as hot, dry weather hurt prospects for the U.S. harvest, which usually starts in September. Farmers will collect 3.149 billion bushels this year, below 3.255 billion estimated in August, the USDA said Sept. 12.

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soybean options

soybean futures

September 11th, 2013

Soybean futures rose in Chicago before a government report tomorrow that may show the U.S. crop, the world’s largest, will be smaller than previously expected after dry weather in the past month.

U.S. farmers may harvest 3.13 billion bushels of soybeans, 3.7 percent less than estimated a month ago, according to a Bloomberg survey of analysts before the Department of Agriculture updates its projection. Parts of Iowa and Illinois, the biggest growing states, had as little as 5 percent of normal rain in the past 30 days, National Weather Service data show.

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commodity futures

soybean futures gain

June 6th, 2013

Soybeans gained, set for a sixth weekly advance, the longest such rally in four years, as increased demand from importers drained supply from last year’s crop. Corn and wheat declined.

Soybean futures for delivery in July, before this year’s harvest, rose 0.3 percent to $15.325 a bushel by 10:11 a.m. in Singapore, taking the weekly advance to 1.5 percent. Futures haven’t seen six straight weekly gains since June 2009.

Exporters in the U.S., set to regain its ranking as the top grower and shipper, already sold 36.62 million metric tons of the 36.74 million tons the government predicted will be shipped by Aug. 31, the Department of Agriculture said. Cumulative sales through May 30 are up 260,600 tons from a year earlier, before the country was hit by the worst drought since the 1930s.

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Soybeans Touch Six-Month High

On May 23, 2013, in Soybean futures news report, by Infinity Trading
soymeal futures

soybean futures rise

May 23rd, 2013

Soybean futures touched a six-month high in Chicago on signs demand will increase in China, the world’s biggest importer of the oilseed, while U.S. supplies shrink before the next harvest.

China’s soybean imports will start increasing sizably from this month and jump 17 percent in the season beginning Aug. 1 to 68 million metric tons, Hamburg-based researcher Oil World said May 21. U.S. supplies before the next harvest will shrink to 125 million bushels, the smallest since 2004, the Department of Agriculture estimates.

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