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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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soybean futures advance
May 3rd, 2013
Soybean futures jumped for the first time in four days on speculation that U.S. farmers will not increase the amount of the oilseed they plant as technological advances make it possible to seed corn later in the year.
Rain is expected in parts of the Midwest, delaying corn planting, DTN said in a report today. Wet weather next week will “keep planting progress slow,” the forecaster said. Technological advances including “short-season” plants that grow faster than normal will allow farmers to seed corn, even if it’s planted later, said Brian Hoops, the president of Midwest Market Solutions in Springfield, Missouri.
“With the technology and the hybrids we have, we will see corn acres get into the ground,” Hoops said in a telephone interview. “Back 20 years ago we would’ve seen the jump to soybeans, but now we have short-season hybrids. Not a lot of acres are going to be shifted from corn.”
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March 28th, 2013
Soybean Futures – U.S. farmers will sow fewer acres with soybeans this year, the government said, surprising analysts who were expecting a gain. Corn will get the most acreage since 1936, the U.S. Department of Agriculture said.
About 77.126 million acres will be sown with soybeans, down 0.1 percent from 77.198 million a year ago, the USDA said today in a report based on a survey of farmers. Analysts in a Bloomberg survey were expecting 78.351 million. Corn acreage will reach 97.282 million, up from 97.155 million last year, the agency said. The average analyst estimate was 97.339 million.
Soybean plantings fell in Minnesota, the third-biggest grower, and in every Great Plains state except North Dakota, offsetting increases in Iowa and Illinois, the two top producers. Prices for corn and soybeans are up this year, making the crops attractive for farmers who hope to replenish stockpiles after drought curbed production last year.
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March 12th, 2013
Soybean futures fell from the highest close in more than four weeks as the harvest accelerates in Brazil, where farmers are expected to produce a record crop.
Brazilian farmers collected about 48 percent of the crop as of March 8, compared with 46 percent a year earlier, researcher Safras & Mercado said in a report yesterday. Brazil, expected to overtake the U.S. as the world’s biggest exporter, may produce a record 83.5 million metric tons of soybeans, the U.S. Department of Agriculture said March 8. U.S. soybeans inspected for export in the week to March 7 slid 58 percent from a week earlier to 17 million bushels, the USDA said yesterday.
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March 8th, 2013
Soybean futures and corn rose for a second straight day on speculation that the U.S. government will lower its forecast for crops in South America.
Argentina, the world’s third-largest soybean exporter, may harvest 51.2 million metric tons of the oilseed, less than last month’s estimate of 53 million tons, according to a Bloomberg survey of 25 analysts before today’s U.S. Department of Agriculture report. Argentina, which has had dry weather, may harvest 25.7 million tons of corn, less than the 27 million tons projected in February. Brazil’s soybean and corn crops may both be 0.4 percent less than previously forecast, at 83.2 million tons and 72.2 million tons, the survey showed.
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March 5th, 2013
Soybean futures rose to the highest in more than a week after the U.S. government reported more sales to China, the world’s biggest buyer. Corn and wheat also gained.
U.S. exporters sold 345,000 metric tons of soybeans to China for delivery in the 12 months starting Sept. 1, and 330,000 tons were sold to unknown destinations for delivery before Aug. 31, the Department of Agriculture said today. There were 174 vessels loading or waiting to load 10.27 million tons of the oilseed and soy-based animal feed today, according to SA Commodities.
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February 7th, 2013
Soybean Futures – Dry weather and shipping delays in South America are boosting demand for soybeans from the U.S., the world’s largest grower and exporter, and producing the tightest inventories in almost five decades.
Stockpiles will shrink to a nine-year low of 130 million bushels on Aug. 31, before the next U.S. harvest, according to the average of 31 analyst estimates in a Bloomberg survey. Reserves will total 4.2 percent of demand, the lowest since 1965, U.S. Department of Agriculture data show. The USDA will update its estimates tomorrow.
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January 24th, 2013
Corn futures rose from a one-week low on speculation that demand from U.S. makers of biofuel and animal feed will erode inventories. Soybeans fell.
Ethanol production rose 1 percent in the week ended Jan. 18 and stockpiles dropped 1.4 percent, the Energy Department said today in a report. In the week ended Jan. 19, domestic chicken producers increased the number of chicks placed on feed by 1.1 percent from a year earlier, the U.S. Department of Agriculture said yesterday. The government said corn reserves on Aug. 31 will fall 39 percent to the lowest in 17 years.
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Jan 3, 2013
Soybean futures tumbled to a six-week low after China, the world’s biggest importer, canceled its third U.S. purchase in two weeks, while prospects improved for Brazil’s crop. Corn was little changed.
China canceled 315,000 million metric tons of previous soybean purchases for delivery before Aug. 31, bringing the total to 1.155 million since Dec. 18, the U.S. Department of Agriculture said in a report today. Yesterday, the USDA’s Foreign Agriculture Service said Brazil’s harvest this year will jump 25 percent to a record 83 million tons, boosting exports 21 percent and overtaking the U.S. as the top shipper.
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December 19th, 2012
Soybean futures dropped for a fourth day to trade near a three-week low on concern demand for U.S. supplies may weaken after China, the world’s biggest buyer, canceled some orders, and as growing conditions improve in Brazil.
Soybean futures for March delivery slipped as much as 0.3 percent to $14.265 a bushel on the Chicago Board of Trade, near yesterday’s low of $14.2625, the cheapest for the most-active contract since Nov. 27. The price was at $14.275 at 10:45 a.m. in Singapore, 18 percent higher this year.
Export sales from the U.S., the largest grower and shipper last year, probably fell to 400,000 to 1 million metric tons in the week to Dec. 13, from 1.3 million tons a week earlier, according to a Bloomberg survey of five analysts. China canceled about 300,000 tons of soybeans for shipment before Sept. 1, the U.S. Department of Agriculture said on Dec. 18.
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