SOYBEAN futures at the Chicago Board of Trade were narrowly mixed at the Wednesday’s close, holding near three-month highs.
Read Also
Feed Grains Weekly: Cash prices for wheat, barley largely flat
Cash prices for feed barley and wheat continued to remain largely flat, said Susanne Leclerc of Market Master Ltd. in Edmonton.
- Solid crush data released Tuesday remained supportive for soyoil, helping underpin beans. Members of the National Oilseed Processors Association (NOPA) crushed 221.564 million bushels of soybeans in the United States in January, which was a record for the month and up 10.6 per cent from the same month a year ago.
- The U.S. Environmental Protection Agency is expected to submit proposed biofuel blending quotas for 2026 to the White House later this week.
- Rainfall in southern Brazil helped improve crop conditions, reducing concerns over hot and dry weather in the area. Meanwhile, the harvest was progressing in central and northern growing regions.
- Optimism over increased sales to China remained supportive for values, although the Lunar New Year holiday was limiting business.
WHEAT futures corrected higher amid ideas recent losses were overdone.
- Concerns over cold temperatures damaging winter wheat in parts of Ukraine were supportive.
- Warmer weather and dryness concerns in parts of the U.S. Plains were also supportive.
CORN futures were up in sympathy with wheat, with positioning ahead of the U.S. Department of Agriculture’s Ag Outlook Forum a feature.
- The USDA will release its first projections for 2026/27 supply and demand as part of the Ag Outlook Forum, with early trade estimates predicting a reduction in corn acreage and increases in soybean area.
