Page 83 - Demand Estimates News Today

The USDA maintained its forecast for 2021-’22 soybean oil use in biofuel production in its latest WASDE report, released Feb. 9. The 2021-’22 soybean outlook is for increased soybean crush and lower ending stocks.

The USDA maintained its forecast for 2021-’22 soybean oil use in biofuel production in its latest WASDE report, released Feb. 9. The 2021-’22 soybean outlook is for increased soybean crush and lower ending stocks.

Fundamentally, corn has been supported by the strength in soybeans and the December contract continues to fight for acres.

CHICAGO — Chicago Board of Trade soybean futures extended a rally on Thursday to a nine-month high as a sharp cut to Brazil’s official harvest forecast fanned…

* CBOT soy highest since May as Conab slashes Brazil forecast * U.S. reports soy export sale to unknown buyers…

Lower Brazil and Argentine production and exports boost optimism.

The February World Agricultural Supply and Demand Estimates were focused solidly on South American production and losses tied to their ongoing drought in southern Brazil and Argentina.

Domestic grain demand adds bullish pressure to USDA reports, though easing Chinese grain demand could prevent a rally.

Soybean price has been in the overbought territory for close to two weeks. It has been rallying for three months amid supply concerns.

The Ankara attaché of the US Department of Agriculture’s Foreign Agricultural Service has reduced its estimate for Turkey’s wheat imports for marketing year 2021-22 (June-May) to 10.8 million mt, down 5 million mt from the previous estimate. However, the volume is still close to 33% higher than imports in the previous marketing year. The decline ...