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
Farm Bureau Economist Faith Parum discusses the latest Farm Bill proposal and the path ahead for Congress and U.S. agriculture.
President Donald Trump signed an executive order this week to accelerate domestic production of phosphorus and glyphosate, signaling that farm input availability is now treated as a national security risk.
Federal aid helps, but producers will bear most of the losses. Balance sheets may look stable, but margins remain fragile without policy support.
RFD NEWS Markets Specialist Tony St. James reviews the USDA’s Farms and Land in Farms 2025 Summary.
Strong corn exports support prices while soybeans lag yearly pace. However, large carryover stocks limit upside despite solid yields.
Lori Stevermer with the National Pork Producers Council reacts to the USDA’s speedline proposal, the new Farm Bill’s fix for California’s Prop-12, and other policy developments impacting the pork industry.

LATEST STORIES BY THIS AUTHOR:

Ag Secretary Brooke Rollins surveys Nebraska wildfire damage as cattle losses, tight supplies, rising imports, and beef industry investigations impact U.S. markets. Roger McEowen outlines legal and tax considerations for ranchers recovering from wildfire damage.
Nebraska Cattle Rancher Joe Van Newkirk shares his firsthand insight on devastating wildfires in the Sandhills, discusses challenges facing ranchers, long-term calf health concerns, and the recovery efforts underway.
Nebraska Cattlemen’s Association President Craig Uden shares the latest on Nebraska wildfire conditions, discusses challenges facing producers, and outlines relief efforts underway.
As the strike at a JBS facility in Colorado continues, the National Right to Work Foundation is encouraging some employees to consider returning to work. The group says not all workers on strike may want to participate and urges those who choose to cross the picket line to resign from their union memberships.