United States: Soybeans, corn mixed, still up on the week

게시됨 2021년 4월 1일

Tridge 요약

Soybeans experienced a decrease due to profit taking and technical selling, despite a firm finish to the week and initial gains following the USDA's lower acreage estimate and quarterly stocks report. Export numbers had a bearish impact, with significant cancellations and slowdown in U.S. demand offset by rising sales from Brazil. Soybean meal and oil saw mixed results. Corn prices were mostly higher, adjusting spreads and reacting to the USDA's stock and acreage numbers. Export sales remained strong, with Japan as the leading buyer. The wheat complex saw a decline due to profit taking and technical selling, despite tightening U.S. supply and strong global crop conditions. The USDA will release new supply and demand estimates on April 9th.

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원본 콘텐츠

Soybeans were mostly lower on profit taking and technical selling, but finished the week firm to higher, with the best gains in deferred contracts. Beans generally gave back some of the gains that followed the USDA’s lower than expected acreage estimate and decline in quarterly stocks Wednesday. Weekly export numbers were bearish, China was the leading purchaser, with a big cancellation by unknown destinations, but shipments remain ahead of the expected pace for the 2020/21 marketing year. U.S. export demand has slowed down, while sales from Brazil are rising as their harvest advances and prices decline. Soybean meal was down on profit taking, while oil was mixed, mostly firm, on spread adjustments. The USDA says February’s soybean crush was lower than expected at 164 million bushels, a drop of 33 million from January and 11 million less than February 2020.Corn was mixed, mostly modestly higher, adjusting spreads, ending the holiday-shortened weekly firm to higher. Corn ...

출처: Brownfield Ag