Latest news with #soybeans
Zawya
3 days ago
- Business
- Zawya
Wheat and corn higher, soybeans stuck near 3-week low
PARIS/SINGAPORE - Chicago wheat and corn edged higher on Friday as the cereal markets consolidated after losses this week linked to favourable U.S. and global harvest prospects. Soybeans ticked lower to hold near Thursday's three-week low, curbed by expectations of ample supplies along with uncertainty over biofuel demand as the U.S. government considers waivers for oil refiners. A firmer dollar kept grain prices in check as grain markets awaited an update on demand from weekly U.S. export sales figures later on Friday. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.7% to $5.37-3/4 a bushel by 1015 GMT. Corn added 0.5% to $4.49-1/4 a bushel to steady after a one-week low on Thursday. CBOT soybeans inched down 0.1% at $10.50-1/2 a bushel to consolidate above Thursday's low of $10.40. Agricultural consultancy Sovecon on Thursday raised its forecast for Russia's wheat exports for the 2025-2026 season by 1.1 million metric tons to 40.8 million tons, citing improved weather conditions for the harvest. India is likely to produce a record 117.5 million metric tons of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tons. In the U.S., winter wheat conditions are at a five-year high despite an unexpected decline last week, while regular showers have helped most corn and soybean crops get off to a good start to their growing season. With expectations rising for Brazil's upcoming second corn crop, the corn market found little support in large export sales reported on Thursday by the U.S. Department of Agriculture. "Despite exceptional export sales reported by the USDA —amounting to 205,096 tons for the 2024/25 campaign — market support remains absent," Argus Media analysts said in a note. The soybean market was assessing a Reuters report that the White House is considering a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws. Prices at 1015 GMT Last Change Pct Move CBOT wheat 537.75 3.75 0.70 CBOT corn 449.25 2.25 0.50 CBOT soy 1050.50 -1.25 -0.12 Paris wheat 202.00 0.00 0.00 Paris maize 193.00 2.25 1.18 Paris rapeseed 474.50 2.00 0.42 WTI crude oil 61.35 0.41 0.67 Euro/dlr 1.13 0.00 -0.34 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton
Yahoo
3 days ago
- Business
- Yahoo
More corn than soybeans in the field this year
SOUTH DAKOTA (KELO) – We often talk about farmers having to keep a close eye on the weather as they head into planting season and beyond, but also important for them is the economy. And this year, it's projected that market conditions and potential returns are favoring corn over soybeans. The USDA projects South Dakota farmers will plant 6.2 million acres of corn and 5.1 million acres of soybeans. Farmers in South Dakota have had a strong start to the year with some early planting followed by steady rainfall. Dell Rapids native to perform at Levitt at the Falls 'As a farmer, it's nice to take a break because of rain,' Kevin Deinert, president of the South Dakota Soybean Association, said. According to the USDA, about 85% of South Dakota's corn crops have been planted with 50% already emerging from the ground. As for soybeans, about 70% of those crops have been planted in the state. That's on trend with what Kevin Deinert has been seeing in his area. 'I'd say for the general area around here in Mt. Vernon, everyone's fairly well completed but there's some fields, some pockets here and there,' Deinert said. 'Generally, 90 percent complete with a few soybean fields here or there that still need to get going.' Corn and soybeans are two of South Dakota's top crops that farmers typically rotate between each year. But this year, one of those is looking more profitable than the other. 'As we came into this year, it sure looked like the economics of corn were more favorable than soybeans and a lot of guys around here mostly stuck to their regular rotation of corn and soybeans while mixing in a few small grains as well,' Deinert said. Matthew Elliott with the SDSU Ag Extension says more corn this year also has to do with last year's crops. 'We had a lot of soybean acres and less corn acres last year so that allowed us to build even bigger soybean supplies relative to demand,' Elliott said. 'We were shorter on corn acres so then our supply relative to demand on corn shrinks, so that market is kinda flipping back and forth. So, we're going the other way now so we're incentivizing more corn, expect to have more corn production this year. Expect to be about 4.7 million acres of shift from more corn acres this year than last. There's about 3.6 million acres less of soybeans planted this year than last.' While there's more demand for corn over soybeans this year, Elliott says tariff talk and trade disruptions are putting pressure on prices for both crops, as well as wheat. 'You know, soybeans and wheat, we rely predominantly on exports in order to have the prices we've observed, historically speaking,' Elliott said. 'Corn, less so, we still export about 20-25 percent of our corn but even more of that is domestically consumed. But still, all of them are interrelated. So, they all kind of move together. If soybeans are weak, wheat is weak, corn will be weak. They all rely on those export markets and so anything that disrupts exports for commodities. It's going to put pressure on prices.' Deinert says one thing farmers can do to help off-set their needs is add more diversification into their planting. 'A lot of guys maybe have put in some oats or some milo, crops that aren't generally planted,' Deinert said. 'Some guys looking for some hay for the future in case things turn dry again or just some diversification in their farms. Keeping that diversification to hopefully increase the profitability for everybody's farm.' And as we head into the summer, farmers will be watching for what comes next in the economy. 'Looking towards the market, seeing what tariff talks do and what our trade talks do,' Deinert said. 'Hopefully, we can get some of that sorted out so we can keep a profitable environment for each of our farmers and everybody to keep on farming.' The top export market for corn in the United States is Mexico while the top export market for soybeans is China. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Zawya
5 days ago
- Business
- Zawya
Wheat rebounds on lower-than-expected US crop ratings
CANBERRA/PARIS - Chicago wheat rose on Wednesday after U.S. crop ratings came in below market expectations, though prices remained within sight of a five-year low amid broadly favourable harvest prospects in the northern hemisphere and sluggish international demand. Corn futures also rose, similarly drawing support from a lower than expected U.S. crop conditions score. Soybeans edged lower. The most active wheat contract on the Chicago Board of Trade (CBOT) was up 1.0% at $5.34 a bushel by 1018 GMT. After a short-covering rally lifted wheat from a near five-year low of $5.06-1/4 earlier this month, actual or forecast rain in the U.S. Plains, northern Europe and China have underlined expectations for plentiful supply, fuelling a 2.6% slide in Chicago prices on Tuesday. But U.S. Department of Agriculture data released after the market close on Tuesday rekindled some doubts about crop conditions. The USDA's weekly report showed only 45% of U.S. spring wheat in good to excellent condition, below the lowest in a range of analyst expectations. For winter wheat, the agency rated 50% of the U.S. crop as good to excellent, down 2 points from a week earlier and beneath the average analyst forecast, though still the highest rating for this time of year since 2020. "This is the key reason wheat prices are trying to bounce this morning," CM Navigator analyst Donatas Jankauskas said of the USDA crop ratings. But global wheat demand is low and the risk to crop production will reduce further as northern hemisphere harvests ramp up, said Rod Baker, an analyst at Australian Crop Forecasters in Perth. "Hefty short positions mean there's still time for a rally," he said. "But each day that goes by it gets less likely." Commodity funds hold a large net short position in CBOT wheat and were net sellers on Tuesday, traders said. CBOT soybeans were down 0.1% at $10.61-1/2 a bushel and corn added 0.5% to $4.62 a bushel. Corn and soybeans are under pressure from expectations of a large crop in Brazil, with agribusiness consultancy Datagro this week increasing its forecasts for the country's 2024/2025 crops. But the USDA surprised traders by rating 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll. Prices at 1018 GMT Last Change Pct Move CBOT wheat 534.00 5.50 1.04 CBOT corn 462.00 2.50 0.54 CBOT soy 1061.50 -1.00 -0.09 Paris wheat 203.25 2.00 0.99 Paris maize 198.00 0.00 0.00 Paris rapeseed 487.00 0.50 0.10 WTI crude oil 61.41 0.52 0.85 Euro/dlr 1.13 0.00 0.07 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton.
Zawya
6 days ago
- Business
- Zawya
Wheat slips again as weather risks recede
CANBERRA/PARIS - Chicago wheat fell for a third straight session on Tuesday, as the risk of crop-damaging weather ahead of the northern hemisphere harvest receded, reinforcing expectations of a well-supplied market. Corn also eased, curbed by a bounce in the dollar and favourable crop prospects in the United States and Brazil, while soybeans rose with support from related vegetable oil markets. Chicago futures resumed trading on Tuesday after a holiday closure on Monday for Memorial Day. The most active wheat contract on the Chicago Board of Trade (CBOT) was down 1.7% to $5.33-1/2 a bushel by 1012 GMT, moving further back from last week's one-month peak. Wheat had rallied last week as worries over adverse weather triggered a bout of short-covering at a near five-year low of $5.06-1/4 hit earlier this month. That rally stalled as traders concluded that any damage to wheat production would be limited. Recent days have seen rain in dry parts of northern Europe, rainfall forecasts in drought-hit cropping regions in China, an upward revision to a wheat yield forecast in the European Union and an upgraded production estimate for Russia. "No one is super stressed," said an analyst at a grains trader in Australia, who was not authorised to speak on the record, adding the approaching wheat harvest season in the northern hemisphere could keep prices under pressure. Traders were awaiting the U.S. Department of Agriculture's weekly crop report later on Tuesday to see if U.S. winter wheat conditions continued to improve last week. Meanwhile, export demand for wheat remains tepid and export prices in top shipper Russia dipped last week, analysts said. The U.S. dollar regained some ground after Monday's one-month low against a basket of major currencies, eroding the competitiveness of U.S. grain overseas. CBOT soybeans added 0.3% to $10.63-1/4 a bushel and corn edged down 0.5% to $4.57-1/4 a bushel. Agribusiness consultancy Datagro increased its forecasts for Brazil's 2024-25 soybean and corn crops. Grains also drew some support from a steadier trend in wider financial markets, including crude oil, as investors digested U.S. President Donald Trump's postponement of threatened tariffs against the EU. "Macro markets are feeling pretty good after the long holiday weekend," Peak Trading Research said in a note. "This is a relatively quiet week. We'll see more important (crop) data sets - including key USDA updates - in June." Prices at 1012 GMT Last Change Pct Move CBOT wheat 533.50 -9.00 -1.66 CBOT corn 457.25 -2.25 -0.49 CBOT soy 1063.25 3.00 0.28 Paris wheat 203.50 -2.00 -0.97 Paris maize 199.25 -0.75 -0.38 Paris rapeseed 487.00 -1.50 -0.31 WTI crude oil 61.69 0.16 0.26 Euro/dlr 1.13 0.00 -0.35 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton
South China Morning Post
23-05-2025
- Business
- South China Morning Post
US farmers feel pain as soybean exports to China flatline despite tariff truce
China's imports of American soybeans and pork plunged to zero in early May and have yet to recover despite the US-China tariff truce, suggesting the trade war may have done lasting damage to a key US export trade. Advertisement For years, China has been a vital market for US agricultural products, with American farmers exporting more than US$12.8 billion of soybeans alone to the country in 2024, according to US government figures. But that trade was almost entirely severed after US President Donald Trump launched an unprecedented trade war against Beijing in early April, which saw both sides hike tariffs on each other's goods by more than 100 percentage points in a series of tit-for-tat moves. Chinese imports of American soybeans and pork – previously two of the US' most important export categories in trade with China – plunged dramatically from early April and flatlined completely in early May, according to data from the US Department of Agriculture. US pork exports to China showed signs of recovery in the days following May 12 – when the two sides announced a temporary deal to de-escalate the trade war – with new orders bouncing back to close to pre-April levels, though shipments remained low as of May 15, the data showed. Advertisement However, US exports of soybeans to China remained at zero as of May 15, with no new purchase deals having been struck.
