Soybeans Hit New Highs as Snowstorms Shake Up Deliveries and Export Sales Surge
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Soybeans Hit New Highs as Snowstorms Shake Up Deliveries and Export Sales Surge
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This is your Daily Soybeans Price Tracker with Vanessa Clark podcast.
Hey friends, welcome to another episode of Daily Soybeans Price Tracker with Vanessa Clark. Im Vanessa, and today were diving into the freshest soybeans news, including where prices stand right now, so you can stay ahead in this fast-moving market.
First off, the big update: March soybeans closed at 10 dollars and 67 and three-quarters cents per bushel, up three and three-quarters cents on the day, according to GX94 Radio closing prices. Thats a nice little bump after hitting a new January high yesterday before pulling back a bit, as AgMarket.Net reports. Early morning action showed soybeans up two to three cents, with support at 10 dollars and 38 cents and resistance near 10 dollars and 68 cents, the 200-day moving average.
Key news driving this? USDA announced a flash export sale of 192,350 metric tons to unknown spots, possibly Mexico, and weekly export sales hit a marketing year high at 2.45 million metric tons, way above estimates, per Barchart. But heads up, a massive snowstorm and bitter cold are halting grain deliveries across the US for a couple days, which could firm up basis levels. Longer term, Ohio State ag economist Ian Sheldon warns US soybean prices might stay under pressure in 2026 due to Brazils record crop making our beans less competitive in China, even with tariff cuts. University of Georgia forecasts average around 10 dollars and 20 cents per bushel.
Actionable tip: If youre holding contracts, watch that 10 dollars and 70 cents resistance closely this week, and eye export reports for China buying hints later this summer. Trade smart out there.
Thanks for tuning in, buddies. Subscribe, share with your farming crew, and catch you next time on Daily Soybeans Price Tracker!
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