While corn saw a big boost in this month’s WASDE report, soybeans are looking at the lowest acres in several years.
Market analyst Brian Hoops explains why.
“On the flip side, because we planted more corn acres, you had less soybean acres planted; the smallest soybean acres since 2019. Even though you had a new record yield for soybeans, the smaller harvested acres took away over 150 million bushels of supply, a pretty sizable amount, and we pushed sharply higher. Now the question is, where do we go from here?”
A social media post this week by President Trump sent waves through the soybean market. He urged China to return to the buying table, but it is a move many analysts feel is unlikely to happen.
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USDA’s Quarterly Grain Stocks report shows increased supplies across all major commodities, with corn, soybeans, and wheat stocks all rising compared to a year ago. Lewis Williamson with HTS Commodities discusses producer and market sentiment ahead of the key report.
Tony St. James and StoneX’s Arlan Suderman provide real-time insight on the USDA’s annual Prospective Plantings report, which shows a shifting acreage across commodities, with farmers planning to cut back on corn and wheat while increasing soybean and cotton acres.
Lower shipping costs alone will not restore export competitiveness.
The USDA’s upcoming reports will drop on Tuesday afternoon, giving the trade real results on acreage shifts, drought concerns, and ongoing trade tensions, adding uncertainty for U.S. farmers.
Expanded access could boost demand for U.S. exports.
Corn and soybean exports continue supporting demand levels.
