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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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

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 quotes

soybean futures quotes

September 26th, 2014

Soybean futures dropped to the lowest in more than four years in Chicago as farmers in the U.S. gather a record crop. Corn and wheat headed for weekly losses.

The U.S. soybean harvest was 3 percent complete in main growing areas as of Sept. 21, the U.S. Department of Agriculture said this week. The agency expects production to climb 19 percent this season to 3.913 billion bushels, the most ever. U.S. corn output may also reach a record at 14.395 billion bushels, the USDA estimates.

“For soybeans and corn in the U.S., there’s ideal conditions for the harvest so far,” Graydon Chong, an analyst at Rabobank International, said by phone from Sydney. “That’s supporting the hypothesis that we potentially see increases to soybean yields going forward, putting extra pressure on the market.”

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