Your Pro Farmer newsletter (Feb. 12, 2022) is now available

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Soybean prices surged above $16 amid falling Brazilian production, a flurry of export sales to China and “unknown” and a rush of fund buying. Soybeans (and corn) futures haven’t been at these levels many times in the past and haven’t been able to maintain the elevated prices for long. Can price rallies continue?... yes. Will markets continue higher?... probably. When and at what price will markets top?... no one “knows” for sure. Is this a historic selling opportunity?... absolutely. While there is more upside potential, history suggests the eventual price drop will be sudden and dramatic. It might not take anything more than funds, who hold record or near-record long positions in soybeans and corn, deciding to liquidate to top markets. Livestock markets also remain bullish, with cattle and hog futures rallying to new highs. But much like the grains, money flow probably means more to near-term price action than fundamentals. USDA’s February Supply & Demand Report offered no real surprises, though U.S. ending stocks were disappointing (not bearish) compared to pre-report expectations. We cover all of these items and much more in this week's newsletter, which you can download here.

 

Latest News

PF Report Reaction: Bullish USDA data for corn
PF Report Reaction: Bullish USDA data for corn

Corn planting intentions and March 1 stocks came in lower than expected.

Report Snapshot: USDA shows lighter-than-expected corn acres and stocks
Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.

Timeline and Issues in Getting Baltimore Port Channel Reopened
Timeline and Issues in Getting Baltimore Port Channel Reopened

Exxon Mobil and SAF | Fed governor says ‘no rush’ to lower rates | Russia aids Cuba | Key USDA reports today

Cattle Strength Wanes | March 28, 2024
Cattle Strength Wanes | March 28, 2024

Japan works to support Yen, Eurozone cuts production forecast and the Biden Administration will repair Baltimore Bridge...

Ahead of the Open | March 28, 2024
Ahead of the Open | March 28, 2024

Corn, soybeans and wheat traded in tight ranges overnight, with grains showing relative strength into the break.

Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales exceed expectations, while soybeans miss

Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.