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5/15/08 Soybean futures prices sold off
from the highs in sympathy with corn. Soybean acres may drop
because of the good planting weather expectations over the
next week. Soybean options premiums are high.
5/9/08 Soybean futures prices rallied
this week because of huge global demand numbers and the
strike in Argentina is expected to start up again sending
buyers to the US. The USDA supply and demand report
estimates that the US ending stocks for soybeans are 185
million bushels which is up from 145 million bushels in
2007-08. Soybean option premiums are high.
5/1/08 Soybean futures prices sold off
this week based on the perception that less corn will be
planted because of bad weather and farmers will be forced to
plant soybeans. Soybean option premiums are high.
4/25/08 Soybean futures prices sold off
this week based on a lack of new bullish news and the rally
in the US Dollar. Brazil has already sold 67% of its crop
and export demand to China is still robust. Soybean option
premiums are still very high.
4/18/08 Soybean futures prices rallied
this week on massive speculative fund buying but profit
taking put a lid on prices. One bullish note is the
potential for the Argentinian farmers strike to get started
again because negotiations are not working out. China's
first quarter GDP rose by over 10%. Soybean
option premiums are very high.
4/11/08 Soybean futures prices rallied
this week because the Argentina farmers strike is expected
to begin again. Also helping prop up soybean futures prices
is huge Chinese buying of US soybeans. The soybean option
premiums are very high.
4/4/08 Soybean futures prices had
another wild ride this week. Down limit on Monday and
rallying ever since. The USDA report showed acreage up 18%
from a year ago and stockpiles down 20%. The strike in
Argentina is over and China made a huge soybean buy this
week. Soybean option premiums are very high.
3/28/08 Soybean futures prices had a
wild ride this week. 2008 planting is not expected to
replenish stockpiles to comfortable levels and since March 4
the farmers in Argentina have been on strike. The USDA
prospective plantings report is coming out on March 31.
Soybean option premiums are high.
3/21/08 Soybean futures prices kept
falling this week as Wall Street hedge funds and commodity
funds liquidated futures positions to cover margin calls in
stocks and to pay back borrowed money. The Bear Stearns
issue took the confidence from investors. The Fed's 75 basis
point cut surprised investors because a full 100 basis point
cut was expected. Soybean option premiums are high.
3/14/08 Soybean futures prices are
consolidation sideways near all time highs. The USDA report
showed US ending stocks down from 160 million bushels to
140. Many farmers are expected to plant soybeans at the
expense of corn this planting season. The next major report
is on March 31 and is the prospective plantings/quarterly
stock report. Soybean options premiums are high.
3/7/08 Soybean futures prices hit
another contract high this week before following the other
commodities lower in a broad based commodity sell off. The
USDA report on 3/11/08 is expected to show an increase in
soybean and wheat acres expectations by US farmers. China's
largest soybean producing province just had its worst
drought and is expected to plant less soybeans. Soybean
option premiums are high.
2/29/08 Soybean futures prices hit
another contract and all time high this week based on dry
weather in Brazil and talk of soybean exporters around the
world slowing exports in an effort to diminish food
inflation. The US coast guard had to close down the
Mississippi river 45 miles from the mouth because of a
marine related accident. Soybean option premiums are high.
2//22/08 Soybean futures prices hit all
time highs this week based on Chinese demand and in spite of
Brazil and Argentina getting much needed rain. The USDA's
planted acreage report showed soybean planted acreage up 12%
to 71 million acres as farmers choose the most profitable
crop to plant. However, there is still plenty of time to
change their minds until planting is over. Soybean option
premiums are high.
2/15/08 Soybean futures prices were
higher this week in spite of the USDA long term projected
2008-9 soybean production estimates being up 14%. There were
also rumors of China buying a couple of cargoes of soybeans.
The high soy oil demand from China is probably based on the
fact that their rapeseed crop was badly damaged by Winter
storms. Soybean option premiums are high.
2/8/08 Soybean futures prices are near
their all time high and the USDA report showed a decrease in
US and global stocks. Also helping the rally is the lack of
quality soy seed which may threaten soybean acreage
expansion this year. Soybeans futures prices seem unaffected
by the strengthening US dollar but February is typically a
soft month for grain futures prices. Soybean option premiums
are high.
2/1/08 The soybean futures prices hit
a 34 year high because of higher global demand and the
falling US Dollar is helping exports. The USDA report showed
a reduction in global stocks to 46.2 million tons which is
called to pressure soybean futures prices higher. The long term effect of increased bio diesel demand are still unknown for soybean
futures prices. New soybean rust infestations in the US and
Brazil are also affecting
soybean futures prices.
-T & K Futures and Options Inc. |
