Glacier FarmMedia – Old crop SOYBEAN futures at the Chicago Board of Trade were down limit 70 United States cents per bushel after China signaled a willingness to buy more U.S. crops, but not necessarily soybeans, after meetings between respective trade representatives in Paris over the weekend.
U.S. President Donald Trump commented on Sunday that there was “some positive response” from his call for nations to help secure the Strait of Hormuz. No coalition has been formed yet.
The U.S. Department of Agriculture reported soybean export shipments for the week ended March 12 at 966,082 tonnes, 8.9 per cent above the previous week and 45.4 per cent more than the same week last year. Marketing year exports for 2025-26 are at 28.06 million, down 28.3 per cent from last year.
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The National Oilseed Processors Association showed a record February crush of 208.79 million bushels, six million more than analysts’ expectations. The figure was up 10.6 per cent from last year but down 1.5 per cent from January. Soyoil stocks were 2.08 billion pounds, up 150 million from analysts’ estimates, up 38.4 per cent from last year and up 9.5 per cent from last month.
AgRural reported Brazil’s soybean harvest at 61 per cent as of March 12, down from 70 per cent one year ago.
CORN prices were also down by double digits, although nowhere near as severe as soybeans.
The USDA reported corn export inspections at 1.658 million tonnes last week, two per cent below the previous week but up nine per cent from the same week last year. The marketing year total is 42.87 million tonnes, up 39.2 per cent from last year.
AgRural estimated Brazil’s first corn crop at 50 per cent harvested, compared to 72 per cent last year. The safrinha corn crop was 91 per cent planted, compared to 97 per cent last year.
WHEAT prices were also lower, continuing their choppy trade over the past week.
Some hard red winter wheat growing areas in the southwest U.S. Plains stayed dry over the weekend and will remain so for the next few days.
The USDA reported 343,022 tonnes of wheat were inspected for export last week, down 31.2 per cent from the week before and down 30.8 per cent from the same week last year. Marketing year shipments totalled 19.47 million tonnes, up 18.7 per cent from a year ago.
South Korea purchased 87,000 tonnes of U.S. wheat in a tender on Friday.
FranceAgriMer estimated the French wheat crop at 84 per cent good to excellent, unchanged from the previous week.
