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Thursday, February 23, 2023 3:23:31 PM
Top 5 Soybean Outlook Points To Watch
By: Barchart | February 23, 2023
Top 5 soybean outlook points to watch
• 1. US acres. US soybean acres can experience some year-on-year expansion should lag corn.
• 2. Brazil. Brazil is forecast to produce a record 153.0 mmt soy crop and export a record 92.0 mmt while China is increasing soybean production. The Brazilian real is weak against the US dollar. Does this slow US exports and US futures prices?
• 3. Renewable fuel demand. MY 22/23 domestic soy processor demand is robust and is being driven by soybean oil and renewable fuels. US soy crush capacity and renewable fuel refineries are expanding which is positive for basis and disappearance.
• 4. Argentina. Argentina is forecast to produce the smallest soy crop since MY 17/18. Soybean meal and oil exports are forecast to decline but the US has not seen material increases in export sales.
• 5. Weather and yields. A neutral ENSO climate pattern translates to trend US yields.
Read Full Story »»»
DiscoverGold
By: Barchart | February 23, 2023
Top 5 soybean outlook points to watch
• 1. US acres. US soybean acres can experience some year-on-year expansion should lag corn.
• 2. Brazil. Brazil is forecast to produce a record 153.0 mmt soy crop and export a record 92.0 mmt while China is increasing soybean production. The Brazilian real is weak against the US dollar. Does this slow US exports and US futures prices?
• 3. Renewable fuel demand. MY 22/23 domestic soy processor demand is robust and is being driven by soybean oil and renewable fuels. US soy crush capacity and renewable fuel refineries are expanding which is positive for basis and disappearance.
• 4. Argentina. Argentina is forecast to produce the smallest soy crop since MY 17/18. Soybean meal and oil exports are forecast to decline but the US has not seen material increases in export sales.
• 5. Weather and yields. A neutral ENSO climate pattern translates to trend US yields.
Read Full Story »»»
DiscoverGold
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