Why exactly were soybeans bullish in January’s WASDE report?

This month’s WASDE report showed a bullish outlook on soybeans. USDA made cuts to both soybean and corn numbers and left the South American crop unchanged.

An economist says both marketplaces are uncertain with the news about the South American crop and the potential for trade wars with the incoming Administration. It is something that traders are watching, but they warn there are several other factors at play moving forward.

“This is something that we’ve got to keep an eye on, but the big questions remain, as I said with the corn, it’s the South American production. And then we do have to concern ourselves with risk to prices based off of any tariffs coming in with the new Presidency and potential trade wars,” said Greg McBride.

Also on everyone’s radar in the coming weeks is Brooke Rollins, President-elect Trump’s pick to lead USDA. Cabinet nominees have begun their confirmation hearings this week. So far, Rollins’ hearing has not been scheduled.

Related Stories
RealAg Radio’s Shaun Haney discusses Canada’s new soil health strategy, its implications for producers, and its potential to support sustainable agriculture in Canada compared to USDA funding for conservation.
White House hosts “Celebration of Agriculture” as Trump administration signals new farmer support, including potential tax breaks and upcoming renewable fuel policy updates.
AFBF Economist Danny Munch breaks down a new Farm Bureau analysis showing that producers now earn less than 6 cents of every food dollar, as farm input costs continue to squeeze margins.
Productivity gains are supporting supply despite limited herd expansion.
The Biden Administration launched the Increasing Land, Capital, and Market Access (ILCMA) program in 2023 to help underserved farmers facing barriers to land ownership.
Farm CPA Paul Neiffer provided guidance on navigating the R&D tax credit, emphasizing record-keeping, eligibility, and maximizing potential savings as crop margins remain the key pressure point for farmers.

LATEST STORIES BY THIS AUTHOR:

Talks highlight the widening role of agriculture in U.S.–India trade policy, though neither side appears ready for major concessions before tariff issues and oil imports are resolved.
Southern farms are deepening online engagement for cost savings and market access, while higher-cost precision technologies face renewed scrutiny amid tight budgets.
Global trade teams and summit discussions highlight expanding opportunities for U.S. corn and ethanol exports as nations explore renewable fuel options and reduced-carbon energy pathways.
The Louisiana cotton crop is the smallest on record, but strong yields are a silver lining. LSU AgCenter’s Craig Gautreaux reports from northeast Louisiana.
Soybean farmer and Arkansas Lt. Gov. Leslie Rutledge highlights why the U.S. trade standoff with China is especially critical for Arkansas producers.
Agriculture Shows
Special 3-part series tells the story of the Claas family’s legacy, which changed agriculture forever.
From soil to harvest. Top Crop is an all-new series about four of the best farmers in the world—Dan Luepkes, of Oregan, Illinois; Cory Atley, of Cedarville, Ohio; Shelby Fite, of Jackson Center, Ohio; Russell Hedrick, of Hickory, North Carolina—reveals what it takes for them to make a profitable crop. It all starts with good soil, patience, and a strong planter setup.
Champions of Rural America is a half-hour dive into the legislative priorities for Rural America. Join us as we interview members of the Congressional Western Caucus to learn about efforts in Washington to preserve agriculture and tackles the most important topics in the ag industry on Champions of Rural America!
Featuring members of Congress, federal and state officials, ag and food leaders, farmers, and roundtable panelists for debates and discussions.