Friday, 28th September 2007
So much, for no surprises in the USDA’s grain stock report. Soybeans came in at a record 573 million bushels, well above estimates. Having read the report when it came out, I expected today to close well down. It did, all but reversing yesterday’s gains. Those extra 20 million bushels in the current stocks provide [...]
Wednesday, 26th September 2007
Well, I guess I was a little right. Planting is providing the support, it’s just a lot more than I had anticipated at the moment. The factor’s haven’t changed, Brazil and wheat are still the major reasons behind the support. Dow Jones‘ outlook for the day had it summed up in their opening line:
Soybean futures [...]
Monday, 24th September 2007
I wasn’t keeping an eye on the market at all today. I just about caught the pre-opening reports but other than that I didn’t see much. All in all, I don’t appear to have missed anything. The news this morning was about Paraguay and the expected good harvest there. Soybeans opened a little higher and [...]
Thursday, 20th September 2007
Corn seems to be grabbing the bigger headlines today, but for me soybeans continue to play up a storm. Now into it’s tenth successive positive close, soybeans continued to make fresh three year highs, reaching 996′4 early in the session. The USDA’s weekly exports figure came in comfortably at the higher end of expectations at [...]