A third factor supporting the recent strength in soybean prices, Good added, is the need for South America to substantially expand soybean area for harvest in 2008. While soybean oil stocks have remained large, expanding consumption of soybean oil, palm oil, and canola oil has resulted in higher prices of vegetable oils. Biodiesel use of soybean oil accounted for 14 percent of domestic soybean oil consumption in May 2007. Good's comments came as he reviewed the performance of soybean...

The reduction in acreage in other crops has caused everyone to adjust their expectations for future supply of those crops, thus driving up their expected value, Anderson said. There have been 93 million acres of corn planted nationwide this year, making the biggest corn acreage in the country since 1944, Anderson said. We ve seen a huge reduction in cotton acres, which has been one of the major cash crops for this area for generations, he said. But corn s popularity has had a positive...

Today s early opening calls are for the sell-off to continue in the bean complex with early opening calls 5 to 7 cents lower in soybeans and lower calls in the products as well. An abrupt shift in the weather patterns over the weekend left the market vulnerable to a big move to the downside as the market was overbought. Some traders say this move was hidden as a weather market but some say it was more the function of fund liquidation than anything else. China also announced that they have...

The USDA report projects soybean production at 2,625 million bushels, down 120 million bushels because harvested area, reported in the June 29 acreage report, is 2.8 million acres below the past month's projection. Low soybean production figures in the report supported the soy oil complex that triggered rally in the other edible oil seeds like the mustard seed and castor seed at the domestic commodity bourses. Spot soy-bean prices at prominent mandis flared up amid huge demand by stockists...

Corn and soybean conditions and development are very favorable. Soybeans blooming are at 51 percent, compared to 33 percent last year and 31 percent for the five-year average. Topsoil moisture was rated at 2 percent very short, 24 percent short, 71 percent adequate and 3 percent surplus. Temperature and precipitation statewide were slightly below average this past week. Soybeans setting pods were at 5 percent, compared to 3 percent last year. Wheat harvest was at 96 percent, ahead of the...

Scattered and often heavy rainfall the past two weeks has dramatically improved field crops that were close to showing signs of stress after a dry month of June. In contrast, Kamenz said the recent rainfall here has helped produce some of the best crops in the province, barring those in isolated areas that have been hit by hail. In an article published by the Ministry of Agriculture, Food and Rural Affairs, a plant physiologist with the University of Illinois writes that field crop plant...