To start the week soybeans fell lower overnight, got back on the positive side at the start of the day session, only to quickly turn lower and added to the losses for the rest of the session. Improving weather that’s helping harvest pace pick up in Brazil pressured soybeans. Brazil’s soybean harvest is estimated at 38% complete vs. 27% last week and 34% average. In addition, rains were added to the 6 to 10 day forecast for Argentina. Losses were limited by AgRural lowering its estimate of Brazil’s crop by 2.8 MMT to 168.2 MMT. Traders expect this week’s USDA Ag Outlook Forum will increase corn planted acres and decrease soybean planted acres. Last week’s export shipments at 31.6 MB were at the high end of the range of trade estimates.
In Tuesday’s session Soybeans were mostly higher overnight, dropped sharply lower at the start of the day session but then bounced back and closed with small gains. Dr. Cordonnier lowered his estimate of Brazil’s soybean production by 1.0 MMT to 170.0 MMT but left Argentina unchanged at 48.0 MMT. Good rains are still in the forecast for Argentina over the next 2 weeks. Ahead of this week’s Ag Outlook Forum, traders expect soybean planted acres to be about 2.7 million lower than last year.
Soybeans saw small losses overnight and then added to the losses in the day session to close lower on Wednesday. Pressure came from South American weather as good rains continue to be in the 6-to-10-day forecasts for Argentina while Brazil’s soybean harvest continues to move at an above average pace. Thursday morning USDA’s Ag Outlook Forum will release early unofficial numbers for the 2025/26 crop year. The average trade estimate for soybean planted acres is 84.4 million vs. 87.1 million last year and new crop ending stocks at 380 MB vs. 380 MB this past year.
On Thursday soybeans saw slow and steady gains overnight but gave all that back in the day session and closed with small losses. Spillover pressure from the sharp losses in the wheat and corn markets pulled soybeans into the red. Rains in the forecast for Argentina and President Trump’s clarification that an additional 10% tariff on Chinese imports will go in effect on March 4 added pressure.
But losses were limited by better-than-expected numbers released at USDA’s Ag Outlook Forum. USDA estimates this spring’s soybean planted acres at 84.0 million, down 3.1 million from last year and 400,000 less than expected by the trade. Using a 52.5 bu. national yield, puts production at 4.370 BB, just 4 MB more than the 2024/25 crop year. USDA estimates 2025/26 exports at 1.865 MB (up 40 MB from last year) and crush at 2.475 MB (up 65 MB from last year). 2025/26 ending stocks are estimated at 320 MB (down 60 MB from this past year and 60 MB lower than expected by the trade). Last week’s export sales were in the range of trade expectations.
Target $10.85 to advance sales.
Mar soybeans support is at $9.47 while resistance is at $10.85.
For the week, March soybeans were at $10.115 down 28.0 cents while May soybeans were at $10.2575 down 31.5 cents. March soybean meal was at $291.70 down $3.10 and March soybean oil was at $43.53 down $3.28.
For the month, March soybeans were down 30.5 cents while May soybeans were down 31.75 cents. March soybean meal was down $9.40 and March soybean oil was down $2.58.
Soybean Weekly Comments February 28
Soybean Weekly Comments February 28
To start the week soybeans fell lower overnight, got back on the positive side at the start of the day session, only to quickly turn lower and added to the losses for the rest of the session. Improving weather that’s helping harvest pace pick up in Brazil pressured soybeans. Brazil’s soybean harvest is estimated at 38% complete vs. 27% last week and 34% average. In addition, rains were added to the 6 to 10 day forecast for Argentina. Losses were limited by AgRural lowering its estimate of Brazil’s crop by 2.8 MMT to 168.2 MMT. Traders expect this week’s USDA Ag Outlook Forum will increase corn planted acres and decrease soybean planted acres. Last week’s export shipments at 31.6 MB were at the high end of the range of trade estimates.
In Tuesday’s session Soybeans were mostly higher overnight, dropped sharply lower at the start of the day session but then bounced back and closed with small gains. Dr. Cordonnier lowered his estimate of Brazil’s soybean production by 1.0 MMT to 170.0 MMT but left Argentina unchanged at 48.0 MMT. Good rains are still in the forecast for Argentina over the next 2 weeks. Ahead of this week’s Ag Outlook Forum, traders expect soybean planted acres to be about 2.7 million lower than last year.
Soybeans saw small losses overnight and then added to the losses in the day session to close lower on Wednesday. Pressure came from South American weather as good rains continue to be in the 6-to-10-day forecasts for Argentina while Brazil’s soybean harvest continues to move at an above average pace. Thursday morning USDA’s Ag Outlook Forum will release early unofficial numbers for the 2025/26 crop year. The average trade estimate for soybean planted acres is 84.4 million vs. 87.1 million last year and new crop ending stocks at 380 MB vs. 380 MB this past year.
On Thursday soybeans saw slow and steady gains overnight but gave all that back in the day session and closed with small losses. Spillover pressure from the sharp losses in the wheat and corn markets pulled soybeans into the red. Rains in the forecast for Argentina and President Trump’s clarification that an additional 10% tariff on Chinese imports will go in effect on March 4 added pressure.
But losses were limited by better-than-expected numbers released at USDA’s Ag Outlook Forum. USDA estimates this spring’s soybean planted acres at 84.0 million, down 3.1 million from last year and 400,000 less than expected by the trade. Using a 52.5 bu. national yield, puts production at 4.370 BB, just 4 MB more than the 2024/25 crop year. USDA estimates 2025/26 exports at 1.865 MB (up 40 MB from last year) and crush at 2.475 MB (up 65 MB from last year). 2025/26 ending stocks are estimated at 320 MB (down 60 MB from this past year and 60 MB lower than expected by the trade). Last week’s export sales were in the range of trade expectations.
Target $10.85 to advance sales.
Mar soybeans support is at $9.47 while resistance is at $10.85.
For the week, March soybeans were at $10.115 down 28.0 cents while May soybeans were at $10.2575 down 31.5 cents. March soybean meal was at $291.70 down $3.10 and March soybean oil was at $43.53 down $3.28.
For the month, March soybeans were down 30.5 cents while May soybeans were down 31.75 cents. March soybean meal was down $9.40 and March soybean oil was down $2.58.