SOYBEANS Cash-only marketers: 2019 crop: 40% sold via HTAs for harvest delivery Hedgers-cash sales: 2019 crop: 50% sold via HTAs for harvest delivery Hedgers-futures/options: No positions
We will wait on the next push to the upside before increasing 2019-crop sales. Be prepared to make initial 2020-crop sales on the next price rally
Now you can use Pro Farmer's Daily Advice Monitor to check your market positions absolutely free. No gimmicks - no credit card needed. Don't miss out, sign up today for free access to Pro Farmer's trusted analysis and advice.
SOYBEANS - Fundamental Analysis Soybeans completed their corrective retreat and are now waiting for USDA’s Nov. 8 Crop Production Report for confirmation of a further decline in this year’s U.S. crop. Strong cash basis signals commercials are expecting the weather-delayed harvests to cut yields. Funds are also increasing bullish bets on tighter global inventories. The start of the South American growing season has not been ideal, increasing the importance of wetter November forecasts verifying to curb dryness risks. Demand for U.S. beans has been brisk, mostly from stepped-up Chinese shipments. Traders are waiting for clarification of the timing and size of Chinese purchases if the Phase 1 trade deal is signed this month.
LEADING POLICY COVERAGE
Unbiased & exclusive reports on trade, farm bill progress, government programs and key election news from the acknowledged leader in ag policy coverage.
Receive timely, unbiased alerts when opportunities to lock in strong per-acre revenue arise. Pro Farmer is not a brokerage firm and does not profit from trades.
Every Pro Farmer member enjoys open line privileges with an editor or analyst. When you need further clarification on something you read, or on advice issued, give us a call.
