News

US: Soybeans were higher on Friday, while wheat moved lower

Wheat
Maize (Corn)
Soybean
United States
Published Mar 4, 2023

Tridge summary

Soybeans rebound in the last three days of the week erased the significant drop that took place on Tuesday. Crush incentives for soybeans has been extremely supportive and that doesn’t appear to be changing anytime soon. Soybeans also found support in stronger soybean meal on Friday. Looking ahead to next week, the USDA will likely keep its estimates for ending stocks for U.S. soybeans near unchanged in the upcoming Supply and Demand report. Argentina’s soybean crop continues to struggle while Brazil’s harvesting a record crop.

Original content

Soybeans rebound in the last three days of the week erased the significant drop that took place on Tuesday. Crush incentives for soybeans has been extremely supportive and that doesn’t appear to be changing anytime soon. Soybeans also found support in stronger soybean meal on Friday. Looking ahead to next week, the USDA will likely keep its estimates for ending stocks for U.S. soybeans near unchanged in the upcoming Supply and Demand report. Argentina’s soybean crop continues to struggle while Brazil’s harvesting a record crop. Corn closed mixed, mostly higher on Friday. While exports remain disappointing, they’re down 42% from this time a year ago, corn does appear a little more attractive. The deterioration of Argentina’s corn crop continues, but the weather has been favorable for the planting of Brazil’s second-crop corn. The wheat complex took a tumble Friday, pressured by improved chances of precipitation in the southwestern Plains in the coming weeks. Wheat supplies ...
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