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Advisor
farmerguy89
Posts: 1,226
Registered: ‎06-30-2012
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13 soybeans-- where are we at now?

What do you guys think about 13 soys? Are Brazil and Argentina going to start a price decline here in late February/March (i.e. their pod fill timing)?

Veteran Advisor
Shaggy98
Posts: 4,224
Registered: ‎06-19-2011
0

Re: 13 soybeans-- where are we at now?

Once again, people are putting the cart ahead of the horse.  We are all forgetting where the bread basket of commodity prices are set.  USA. Mother Nature still holds the wild card, are you actually going to talk prices while we are still in the midst of one of the worst wide spread droughts on record?

Senior Contributor
Bugeye
Posts: 240
Registered: ‎11-30-2012
0

Re: 13 soybeans-- where are we at now?

I wouldn't get my panties bound up too tight just yet. This from my broker dude. Soybean futures got a boost from the demand side this week. Thursday's Weekly Export Sales Report showed 1,790,000 tonnes of new net sales last week, old crop and new crop combined. Of that total, 1,610,000 tonnes were for 12/13 delivery, which is a marketing year high, with 846,000 tonnes of that going to the Chinese. Only 117,000 tonnes is needed each week to reach the USDA projection. In additional to the WES report being much stronger than even the most optimistic analyst expected, there were several more cargoes sold to China this week, with additional sales to unknown destinations, which will almost certainly turn out to be Chinese business as well.
Veteran Advisor
c-x-1
Posts: 3,263
Registered: ‎06-26-2012
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Re: 13 soybeans-- where are we at now?

the Feb break.......otherwise, usage is RULING roost in soy

Esteemed Advisor
sw363535
Posts: 4,773
Registered: ‎07-18-2011
0

Re: 13 soybeans-- where are we at now?

For me,  The exports are starting to be a bigger issue than the "super" crop in SA.

 

We have been traking above $14 for the most part since July 12 and exports are stronger than I (or usda) anticipated.  That makes 13 soy look stronger every week, regardless of what is raised in SA.

 

Also the us $ continues to get printed and devalued,  while on the long term that is not good, it does support higher priced commodities at whatever production level.

sw