Key triggers to watch and potential issues to be sure to follow. To view this email as a web page,
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30-day outlook (as of 3/25/22):
Price direction over the next month will be driven by export demand and U.S. spring weather. Fresh supplies from South America’s harvest are increasingly moving into the global export pipeline, which may dampen buying of U.S. soybeans. China returned to the U.S. market last week after a brief absence. Friday morning USDA reported a daily sale of 132,000 MT of soybeans for delivery to China during the 2021-22 marketing year. The announcement follows two daily soybean sales announcements earlier last week totaling 558,000 for delivery to “unknown destinations” for 2021-22. But continued lackluster weekly exports will make it difficult for nearby soybeans to hold above $17.00. USDA on 3/24 reported net weekly soybean sales totaling 412,200 MT for 2021-22, down 67% from the previous week and down 70% from the prior four-week average.
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