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Soybean futures hit contract high for fifth day in row on exports, S. America drought; corn and wheat also higher.
USDA estimates there were 91.9 million head of cattle in the U.S. as of Jan. 1, down 1.9 million head (2.0%) from year-ago and 762,000 head less than the average pre-report estimate implied.
Soybean futures extend rally to highest prices since June on exports, South America drought; wheat’s tumble pulls corn lower.
![“Asian exporters are paying premium shipping rates, sometimes 10 times what the rate is for going from the [United] States back to Asia, and this shipping rate disparity incentivizes sending back those empty containers,” Borror said.](https://assets.farmjournal.com/dims4/default/92c7bcd/2147483647/strip/true/crop/840x561+0+19/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2021-02%2FExport-ship-840.jpg)
Soybean futures extend rally near $15.00 on shrinking South America crop prospects, corn hits contract high, wheat firmer.
Soybeans and corn posted fresh contract highs overnight. Wheat futures open the week under light pressure. Livestock futures are higher this morning...
Short-, intermediate and long-term trends are up for corn and soybeans.
If Russia invades Ukraine: U.S., other sanctions could tip countries into recession
Soybean futures posted another round of contract highs overnight, with the front-month contract reaching the highest level since June 2021 on the continuation chart. Corn and wheat followed soybeans higher.
Updates for world food prices & U.S. farm income | Russia/Ukraine, China/Taiwan
Soybean futures hit contract high close for third-straight day, corn at highest level since May, wheat ends week strong.