Despite forecasts indicating that soybean acres are limited, the market has been unwilling to take prices higher in recent weeks. As a result, the potential exists for soybean prices to go a little higher in the near future - fondly known as &#8220the dead cat bounce. Martinson said that soybean exports to China are quite stable at this time. He thinks the slowdown in soybean prices is a little premature. The main reason was Brazil couldn't get their soybeans to their ports and get them...

Traders say the strength in soybeans has little to do with the acreage battle and is more about vegoil demand worldwide. Monday afternoon the USDA released their weekly crop progress reports showing soybean planting estimates at 3% complete. The market rebounded from a weaker open and rallied as soybean oil closed into new highs. Traders say funds are buying veg oils with fund activity reported to be heavy in canola, palm oil and soybean oil. More importantly the corn planting progress was...

As for other crops, there has been a "surprisingly fair yield" but it would have been much better if there was rain to go along with it, Teague explained. While many were glad to see sunny and dry weather through last winter and early spring, this area has seen so much of it that a serious drought has developed. Since irrigation systems are typically not used in this part of the country, farmers rely on whatever falls out of the sky, Teague explained. drought monitor report with southern...

Meanwhile, a market technician said soybean bulls need to show more power soon, with a two-month-old downtrend line still in place on the daily July bar chart. A slower-than-expected planting pace reported in Monday's crop progress report rekindled ideas of corn acreage shifts to soybean, and should apply pressure to prices, analysts said. Soybean planting "plays second fiddle" to corn planting and farmers need to have more corn planted before soybean planting increases, he said. Trade...

Long liquidation profit-taking seeped into the market in mid-April following weakness in soyoil prices and forced the market to return a portion of its earlier excessive gains. CPO in for more band trading. CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives advanced sharply in the first four months this year boosted by the bullish soyoil market, tight supplies and supported by demand from the biodiesel sector. Talks of a large reduction in US soybean acreage due to high corn...

The rally in soybean prices was a big help in moving corn off limit-down levels but the price activity in December corn was also a big factor, Kleist said. Selling eased after midsession, when soybean futures and soybean meal rallied. Market Watch Online email. In addition, the corn crop isn t in the ground and in many areas farmers can t get into their fields to prepare the ground for planting, and given the fact that farmers are expected to plant 90 million acres this year, time is of...