Latest news with #soybeans
Yahoo
3 hours ago
- Business
- Yahoo
Soybeans Showing Quiet Midday Trade with Non-eventful USDA Reports
Soybeans are failing to see much follow through on the smaller acreage number, as stocks were above estimates. Contracts are down 1 to 3 cents in the old crop months, with new crop November up just 1 ¼ cents at midday. There were 200 deliveries issued against July soybeans on first notice day, all issued by the ADM house account. The cmdtyView national average Cash Bean price is down 4 1/2 cents at $9.80. Soymeal futures are trading with 50 cent weaker movement at midday, as Soy Oil is up 10 points. There were 643 deliveries issued against July soybean meal and just 7 for bean oil. A private export sale of 204,000 MT of soybean meal was reported by the USDA this morning for 2025/26 to unknown destinations. Coffee Prices Fall on Abundant Rainfall in Brazil Cocoa Prices Higher on Dollar Weakness and Tighter Ivory Coast Supplies NY Sugar Prices Slump Ahead of July Contract Expiration Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! USDA released their Grain Stocks report this morning, showing 1.007 mbu of soybean stocks on June 1. That was 37 mbu larger compared to the year prior and well above estimates of 974 mbu. The annual Acreage report showed 83.38 million acres of soybeans planted, which was shy of the trade estimates of 83.5 million soybean acres and 115,000 acres below the March Prospective Plantings report. Export Inspections data showed 224,787 MT (8.26 mbu) of soybeans shipped in the week that ended on June 26, which was up 11.4% from the week prior, but still down 29.7% from the same week last year. Mexico was the top destination of 113,190 MT, with 38,485 MT headed to Japan. Marketing year shipments have totaled 45.851 MMT (1.685 bbu) since September 1, 10.3% larger yr/yr. Jul 25 Soybeans are at $10.26 1/4, down 1 1/2 cents, Nearby Cash is at $9.80, down 4 1/2 cents, Aug 25 Soybeans are at $10.30 1/2, down 2 3/4 cents, Nov 25 Soybeans are at $10.26, up 1 1/4 cents, New Crop Cash is at $9.73 1/4, down 0 cent, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 hours ago
- Business
- Yahoo
Soybeans On the Higher Side of Unchanged
Soybeans are fractionally to 3 cents higher so far on Monday morning. Bulls fought back on Friday, with futures closing 5 to 8 cents higher on the session. July was down 40 ¼ cents last week, as November fell 36 cents. There were 200 deliveries issued against July soybeans on first notice day, all issued by the ADM house account. The cmdtyView national average Cash Bean price was up 4 3/4 cents at $9.84 1/2. Soymeal futures closed the day with more steady trade, firm to 20 cents lower, as July fell $13 last week. Soy Oil ended the day with 15 to 22 point losses, as July fell back 202 points last week. There were 643 deliveries issued against July soybean meal and just 7 for bean oil. Commitment of Traders data from Friday afternoon showed managed money slashing 35,717 contracts from their modest net long in soybean futures and options. By June 24th, that net long was just 23,448 contracts. In soybean meal, spec traders were a record net long 110,080 contracts. Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! USDA will release their Grain Stocks report this morning, with traders surveyed by Bloomberg looking for 974 mbu of soybean stocks on June 1, with a range of 936 mbu to 1.022 bbu. That survey also showed an estimated 83.5 million soybean acres. Export commitments of soybeans are 49.474 MMT, as of June 19, which is 98% of the USDA projection, down from the 5-year average of 102%. StatsCanada estimates the Canadian canola acreage at 21.457 million acres, down 2.5% from last years. Soybean acres are seen up 0.5% to 5.737 million acres. Jul 25 Soybeans closed at $10.27 3/4, up 5 cents, currently up ½ cents Nearby Cash was $9.84 1/4, up 4 3/4 cents, Aug 25 Soybeans closed at $10.33 1/4, up 5 1/2 cents, currently up 1 3/4 cents Nov 25 Soybeans closed at $10.24 3/4, up 8 1/4 cents, currently up 3 ½ cents New Crop Cash was $9.73, up 8 1/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
10 hours ago
- Business
- Zawya
Corn eases on supply hopes, soybeans rise ahead of US reports
Chicago corn fell on Monday, trading close to last week's eight-month low, and wheat was also down with both pressured by expectations of ample global supplies. Soybeans edged higher in positioning ahead of the U.S. Department of Agriculture acreage, stock and crop progress reports due later on Monday. "The supply picture is pretty bearish for grains, and we don't see much upside in prices," said one trader in Singapore. Chicago Board of Trade most-active corn fell 0.6% to $4.09 a bushel at 1006 GMT, close to Thursday's eight-month low of $4.02-1/4. Wheat fell 0.4% to $5.38-1/4 a bushel. Soybeans , which hit their lowest in around three months on Friday, rose 0.3% to $10.28-1/4 a bushel. Favourable supply prospects in the United States and key exporting countries are undermining prices ahead of the USDA reports. "Markets are likely to be volatile today with the USDA giving a big volume of important data to digest including U.S. inventories and estimates of U.S. sowings of corn, soybeans and wheat," one German trader said. Warm weather and favourable rains have created ideal growing conditions for soybeans and corn in the U.S. Midwest, while farmers in Brazil are expected to harvest a bumper second corn crop. The International Grains Council raised its 2025-26 world wheat crop forecast by 2 million metric tons to 808 million on Thursday. The European Commission increased its forecast for the EU's soft wheat crop. Germany's farming association on Monday also forecast a larger grains crop for the country despite a spring drought. Canadian farmers this year planted more crops including wheat, soybeans and corn, Statistics Canada said on Friday. India's annual monsoon rains covered the entire country on Sunday, nine days earlier than is typical, the weather department said, bringing forward planting of summer-sown crops. (Reporting by Michael Hogan in Hamburg and Naveen Thukral in Singapore; Editing by Sumana Nandy, Harikrishnan Nair and Joe Bavier)
Yahoo
2 days ago
- Climate
- Yahoo
Northeast Mississippi farmers struggle as excessive rain has inundated fields, stunted growth
SHANNON – By now, Clay Mask should be standing knee high in soybeans. Instead, the soybeans are stunted, barely sticking out of the ground in water-logged fields that have seen more than enough rainfall this year. "We've planted about 1,500 acres, split between corn and soybeans, and there's probably about a third of those acres that need to be replanted," Mask said. "The rest of the acres we haven't gotten to plant, and we aren't going to because of all the rain." Farmers across the state — and across the Midsouth for that matter — have been unable to work their fields because of the excessive rainfall. "It's the worst I've seen, and I've been around farming a long time," said Brian Pieralisi, a cotton specialist for the MSU Extension Service. "My grandfather was a farmer, my father was a farmer, and I've been a farmer, too. I've never seen anything like this with growers really struggling to get planted." Roughly 52 inches of rain has fallen so far this year in North Mississippi, about 50% more than average. "By this time, everything should have been in the ground," said Mask, a sixth-generation farmer and owner of Sweet Water Farms. "But we've had too much water.' To make matters worse, the rainfall this year follows a drought that plagued farmers for much of last year. "Last year, we averaged 16 bushels across our farm. I thought it would be better this year, but it'll be worse," Mask said. Typically Mask would get about 40 bushels an acre. He's now looking at a yield that could be potentially only about a fifth — or worse — of what it should be. And that won't pay the bills. Mask has already paid the rent on the 2,700 acres he farms, as well the fertilizer that was put on those fields. But all that fertilizer has been washed away. "Those are expenses we have no way to recoup," he said. Agriculture is a $9 billion industry in Mississippi, but many farmers, like Mask, are struggling this year. Add to that list Herman Hussey, who has had his share of challenges with trying to grow his crops. In early April, he was able to plant corn for only four days. "It rained right after that, and it was the 20th of April that we were last able to plant; we didn't go back to the fields except for about two hours in May," Hussey said. "Right now, everything should be planted, and we should just be spraying and maintaining." Hussey planted 1,000 acres of corn, but he said it didn't produce a good stand, which refers to the number of good plants that emerge from planting. The better the stand, the better the yield. "We didn't get a stand to start with, so we were looking at replanting in it,' he said. 'But we never got to do that or put any fertilizer on it. The next chance we had to do that was June, but it was too late. It was basically a fail at that point. It's too late to fix it." Hussey opted to destroy the corn hoping to get back and planting in the field, but the field was no longer workable. He switched gears and now hopes to plant soybeans into early July, knowing that the yield will be less than ideal. There are windows of plantings for corn, soybeans, cotton, etc. It's too late to plant corn and cotton, and the window is quickly closing for soybeans. According to MSU Extension, soybeans have the advantage of a planting window that extends to early July. Soybeans are the third largest agricultural crop in Mississippi, valued at $1.3 billion. 'It has certainly been a difficult year to get in the field and get planted,' said Justin Calhoun, Extension soybean specialist. 'I'd say the majority of our crop went in on the normal to late time frame. 'There are still quite a few acres that have yet to be planted, but they are in small pockets around the state that just haven't caught any breaks in the rain.' For cotton, May is the right time to plant, but Hussey was unable to plant any during the month. So he tried soybeans next, and he planted about 3,000 acres over the six to seven days when it wasn't raining or the fields weren't too wet. Unfortunately, Hussey said, "about 1,000 acres of that has been devastated by all the rain." A lifelong farmer, Hussey, 58, said the rainfall this growing season has been unprecedented. "I've seen it rain May out, I've seen June rained out. I've never seen May and June together rained out," Hussey said. Taking the risk If the weather holds and the fields dry some, Mask can take a chance and plant soybeans on the remaining acres that haven't been touched. However, it's a big gamble. "So, if we do decide to roll the dice, we won't have any insurance on it," he said. The deadline for insurance coverage was Wednesday. Mask and other farmers can file for what's called prevented planting. If growers are unable to plant because of insurable causes like excessive rain by the end of the late planting period, they may be eligible for prevented planting insurance coverage, which is a partial payment of the insured value of the crop. For soybeans, the final planting date in Mississippi is typically around June 20, with a late planting period extending for 25 days after that. During this late planting period, planting is still allowed, but the insurance guarantee decreases by 1% per day. The insurance is based on a farmer's APH — Average Production History. The higher the APH, the better the coverage. But that's relatively speaking, because the farmer doesn't get paid the full value. "So if you have a 30 bushel APH, they'll adjust that down to a 65% coverage level, and you'll get paid 65% of those 30 bushels," Mask said. For Mask, prevented planting insurance would pay about $150 per acre, just enough to cover the rent and the fertilizer. But the equipment costs, fuel costs and other input costs aren't covered. And neither are the farm workers. And Mask has a $750,000 line of credit with his bank, with little to no income coming from this year's harvest. "We have to figure out how to pay that somehow," he said. "With a third of our crop not planted, another third severely late and another third that needs to be replanted that we don't know we have a chance to replant ... it's scary." Hussey also said crop insurance doesn't cover enough of the farmers' expenses like the input costs, which are the operating costs for a farm such as fertilizer, pesticides, seeds, fuel, labor and machinery. "We spread lime last fall for the 2025 crop; we spread fertilizer, and we sprayed all the land to kill the vegetation on it to get it where you could work it easier," he said. "Well, some of it has been sprayed three times. You spray it, but you can never get back to it to do anything because of all the rain. The grass and weeds never stop growing. I just sprayed for the third time, and that's typically a one-shot deal ... that's just extra money going out." Both Mask and Hussey said they hope more people understand the struggles farmers are facing. They said this season could be the last for many farms. "Everybody needs to pray for the farmers. Ultimately, what we do keeps food cheap. If farmers do well, everybody does well," Hussey said. "Farmers contribute a whole lot to the economy. When farmers don't do well, your seed people, your fertilizer people, all the input people don't do well. Equipment dealers don't do well. It affects a large sector and a lot of people." John Paul Brooks is owner of Brooks Custom Application in Houston; the company sprays and fertilizes 750,000 acres across North Mississippi and the Delta, stretching into parts of west Tennessee and Alabama. "I'm running 32 machines this year," he said. But he's only been able to service about 60% of the acreage, and he doubts he'll be able to get much more because many farmers have decided not to plant so late in the season. That obviously affects the revenue stream at Brooks, which depends on growers to call them when their services are needed. "I've had to lay people off already, and you're going to see more across the ag industry starting in July," he said. "The fall doesn't look much better for us. I make 100% of my living off farmers, and if they don't get the ground planted and they have bad crops, they're not going to have the money to do what they normally do in the fall. I think it's going to have a ripple effect into next spring at this point. And with crop prices not doing good, it's just a perfect storm right now. It's going to be rough." Earlier his week, Brooks only had 10 of his 32 machines working. On a good day when all the machines are going, he said the company could cover 15,000 to 20,000 acres a day. In May, which is typically the biggest and busiest month, Brooks said he was only able to work about nine days. "There just wasn't enough dry days to work this year, and it's just about too late now," he said. "Last year, we had drought and bad crop prices; this year, it's too wet. So it was a bad year for me last year. Farmers will have to cut back this year. It's a trickle down effect for me and other ag retailers. It's the parts houses, the equipment dealers ... when farmers aren't getting enough money, it affects the whole system. "Now look at this year. People were already hurting coming in. Your farmers, me, everybody. You take a look at what's happening now, and it's going to be a death blow for some. I hope something on the federal level can be done to help the farmers. Because if there was ever a disaster, this is it." A comprehensive farm bill could address many of the needs of farmers today, but Mask isn't holding out hope there will be any action from the halls of Washington, D.C. The most recent farm bill, the Agriculture Improvement Act of 2018, was signed into law in December 2018. It was a five-year bill, and it was supposed to be renewed in 2023. It received a one-year extension until Sept. 30, 2024. Another extension was enacted, and the bill is currently operating under a one-year extension that expires in September. "I think farmers are near the bottom of the priority list in this country, unfortunately," Mask said. "I don't know how we can bring more awareness to our situation. We need prayers."
Yahoo
2 days ago
- Business
- Yahoo
Soybeans On the Higher Side of Unchanged to Start Friday
The soybean market is trying to end the week on a higher note, with front months fractionally higher and November up 2 cents. Soybeans posted Thursday losses of 1 to 3 cents at the close, as multi-year lows in Meal are adding to the pressure. The cmdtyView national average Cash Bean price was up 1/4 cents at $9.79 1/2. Soymeal futures were another $4.70 to $5.40/ton lower, hitting the lowest prices on the front month chart since 2016. Soy Oil were up 56 to 69 points on the day. Export Sales data from Thursday morning tallied 402,931 MT of 2024/25 soybeans sold in the week ending on June 19. That was back down from the week prior, but still up 42.4% from the same week in 2024. The Netherlands was the top buyer of 63,400 MT, with Mexico in from 60,600 MT and 60,000 MT sold to Egypt. New crop sales were tallied at 156,153 MT, the third highest in the MY. Mexico was the buyer of 57,200 MT, with 55,000 MT sold to unknown destinations. Coffee Prices Move Higher as the Dollar Falls Coffee Prices Rally as the Dollar Falls Cocoa Prices Jump as Ghana Cuts its Cocoa Production Forecast Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Sales for soybean meal were just 93,945 MT for 2024/25 and 166,129 MT for 2025/26, totaling 260,074 MT and on the low side of the expected 100,000 and 650,000 MT. Soybean oil sales were 4,023 MT, on the low side of the estimate of net reductions of 10,000 MT to net sales of 34,000 MT. Datagro estimates the Brazilian soybean crop at 173.5 MMT, which was a 1.5 MMT increase from the prior numbers. Jul 25 Soybeans closed at $10.22 3/4, down 2 1/2 cents, currently up 1/2 cent Nearby Cash was $9.79 1/2, up 1/4 cent, Aug 25 Soybeans closed at $10.27 3/4, down 1 3/4 cents, currently up 3/4 cent Nov 25 Soybeans closed at $10.16 1/2, down 2 cents, currently up 2 cents New Crop Cash was $9.65 1/1, down 1/4 cent, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
