Skip to main content

On the Grains
Soybeans rebounded overnight on what could be nothing more than a dead cat bounce, time will tell. NOPA numbers, released during trading yesterday, were indeed good enough to put a tourniquet on the soybeans and even try to mount somewhat of a comeback after the morning flash sales of 131,000 MT to China failed to gain any sort of traction. The September crush came in at 177.3 million bushels, above the 170.3 average estimate, above the top end of the trading range (164-177), well above last month (158) and last years (165.5). While the increase in last month’s numbers isn’t that much of a news story as that was the lowest grind in 35 months. Currently, the October-August crush is needing to run 6% above year ago levels to meet the USDA’s 2.425 billion bushel projections, following up on last year’s 3.4% gain. You couldn’t tell by looking at soybean futures but our much anticipated soybean crush has arrived, where would we be without it?
 

This content is for members only.
Register
Already a member? Log in here

Sign Up For The Commstock Report

Sign Up Now to Improve Your Marketing and Protect Your Profits

Subscribe

Already a Subscriber?
Sign In