Tidbits, Soybean Oil, Diesel Price, Labor Market, Farm Aid, Grain Storage, Weekly Exports 2/27/26
- Wright team
- 1 day ago
- 6 min read
Tidbits
Flash Sale: Yesterday morning, the USDA announced the sale of 154,000 mts of new crop corn and 24,000 mts of 2027 crop corn to Japan.
Soybean Demand & Oil: Weekly Export Sales reported 407,100 mts of soybeans were booked for export this marketing year which ends 31 August. Soybean sales were down 49% from a week ago and down 30% from the 4-week average. China bought 75,500 mts, but 66,000 mts was switched from an unknown buyer to China. So, China only bought 9,500 mts for the reporting week that ended Thursday, 19 February. Obviously, that is not bullish news.
None-the-less, November soybean futures made a new contract high yesterday by 1¢ at $11.32½ but settled a fraction of a cent lower on the day at $11.27½. Yesterday’s high on March beans was 16¢ lower from the previous contract high made more than three months ago. That price gain differential since the recent lows in January demonstrates the bull market is shifting to soybean oil demand and away from Chinese demand.
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