Tidbits, November Soybeans, Fuel, Beef, Crop Progress, ENSO, Export Inspections 5/12/26
- Wright team
- 11 hours ago
- 4 min read
Tidbits
The USDA will release its May S&D at 11 AM Central today, which will include the first of 36 monthly estimates for the 2026/27 crops.
Flash Sale: Yesterday morning, the USDA announced the sale of 220,000 mts of old crop corn, 160,000 mts of new crop corn to Mexico and 128,000 mts of old crop to South Korea.
China’s annual inflation accelerated to 1.2% in April 2026 from 1% in the previous month, exceeding market expectations of 0.8%.
President Trump will arrive in China tomorrow and meet with China’s President Xi Thursday and Friday. Of course, Xi will reaffirm China will buy 25 million mts of U.S. new crop soybeans even if he has no intention of doing so.
The November 2026 soybean contract was up 5¼¢ yesterday. The $11.00 November put was unchanged at 19-7 (19 and seven eighths of a cent). The $12.00 November 2026 call options closed yesterday at 56-1¢ (56 and one-eighth cents). If you write that option (sell it) through your merchandiser, you will receive the 56-1¢ (minus a service fee), which can be applied to your new crop contracts already on the books or additional sales or added to your old crop 2025 beans in the bin when you deliver them. The “catch” is if that option is exercised, your merchandiser will assign to you a November 2026 $12.00 HTA which can be rolled to a deferred 2026 crop contract (January, March, May, July, or August) and delivered later in the marketing year.
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