Soybean futures on track to settle at highest since March 2018 as USDA cuts production forecast Published: Oct. 9, 2020 at 12:44 p.m. A downtrend will start as soon, as the soybean market drops below support level 1161.50, which will be followed by moving down to support level 1136.75 and if it keeps on moving down below that level, we may expect the soybean market to reach support level 1100. We have scattered the winter/spring high and low for cash soybean oil as a function of the USDA’s November average prices forecast. 2020 No Comments. WASHINGTON, DC, US — The US Department of Agriculture, in its Nov. 10 Crop Production report, forecast 2020 US outturn of corn at 14.507 billion bushels, down 1.5% from its October forecast but up 7% from 2019, and of soybeans at 4.170 billion bushels, down 2.3% from October but up 17% from 2019. Despite the forecast of higher production, soybean futures went into the weekend up over 30 cents for the week. Despite the forecast of higher production, soybean futures went into the weekend up over 30 cents for the week. By Mira N. 12. A simple calculation is then performed which provides you with possible support and resistance areas for futures trading. BRASILIA, BRAZIL — Despite a drier than average start to the planting season, Brazil is forecast to produce a record soybean harvest in 2020-21, according to an Oct. 7 Global Agricultural Information Network report from the US Department of Agriculture (USDA). Soybean Meal Price Forecast, Soybean Meal (SM) price prediction. previous week soybean price forecast. Latest S Futures chart forecast for Soybeans Futures. Strong Chinese demand and skepticism surrounding production levels supported this rally. United States soybean output projections lowered m/m. Jan meal rallied 6.63% on the week. Soybean futures for November delivery rose 0.6% to close at $9.7875 a bushel, while corn and wheat declined. The sub-waves of the rally unfolded as 5 waves impulsive structure. ET Pivot points for S futures prices are based on the previous days open, high, low and close prices. The soybean crop forecast of 4.425 billion bushels is 873 million bushels above last year. Some decent rain in Brazil could quickly rescue a partially depleted crop and send prices lower. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Monthly Forecast. Soybean Futures Forecast. Commodity futures prices / quotes and market snapshots that are updated continuously during trading hours. This data product provides three Excel file spreadsheet models that use futures prices to forecast the U.S. season-average price (SAP) received and the implied price loss coverage (PLC) payment rate for three major field crops (corn, soybeans, and wheat). Soybean Oil Price Forecast, Soybean Oil (BO) price prediction. The United States, Brazil, Argentina and Paraguay are the biggest producers and exporters of soybeans in the world, concentrating more than 80% of total production and 90% of total exports. Not counting 2019, the five-year average change in acreage from the March Prospective Plantings report amounts to an increase of 0.45%, which would support at least 83.9 million planted soybean acres in 2020. Soybeans - data, forecasts, historical chart - was last updated on December of 2020. See the fundamentals and key reports which drive trends in the contract. The 4 hour chart update from August 9 shows that Soybean has ended the cycle from April 21 low as wave A at 910 high. ZS_F (Soybean Futures) decline from 961’4 peak to 868’6 low was in 5 waves as 4 Hour chart below shows and thus, we expected bounces to fail below 961’4 peak for another round of selling in 5 waves. Soybean futures closed the Friday session with double digit gains of as much as 18 3/4 cents. Difference between supply and demand shows fair price on the level 1180. Benefit from the liquidity of an average of over 200,000 contracts traded per day and peaks in open interest near 900,000. Front month soymeal futures closed $7.10 to $7.60/ton higher. ... From 2014 started trading on futures market. Soybeans Futures are available for Trading in The Chicago Board of Trade (CBOT® ). Those who participate in Soybeans futures trading use pivot points to identify possible turning points in S for the next trading day. The Soybean market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. The largest Soybean Meal producers are Chine, the United States, Brazil and Argentina. Review a detailed infographic which highlights the global consumption of commodities around the globe to forecast the next opportunity for soybeans. Free intra-day Soybean Oil (Globex) Futures Prices / Soybean Oil (Globex) Quotes. If we fail to identify this shifting of the centre of the distribution and pool the data, over-forecasting and under-forecasting compensate for each other and we are misled. Soybeans is expected to trade at 1206.30 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Trading Economics does not verify any data and disclaims any obligation to do so. For example, when soybean futures prices are about 9–10 US$/bushel, futures prices tend to over-forecast in the first period and to under-forecast in the second period. Crop conditions have worsened and now analysts expect the USDA to trim its forecast for soybean yields by 3% when it publishes its widely watched monthly supply report on Friday. Latest SM Futures chart forecast for Soybean Meal Futures. Prices for S belong to our Commodity Futures Grains area, and are end of day only. Direct access to our calendar releases and historical data. The soybean crop forecast of 4.425 billion bushels is 873 million bushels above last year. The USDA projects soybean output to reach 131 million tonnes this year, up from 125.6 million tonnes in 2019-20. Publish your articles and forecasts in our website. Soybeans has had 3 bull runs, 16 days, 15, and this last one 11 days. In this blog, we are going to take a look at the Elliott Wave chart of ZS_F (Soybean Futures). Uptrend scenario The uptrend may be expected to continue, while market is trading above support level 1063, which will be followed by reaching resistance level 1180. Soybean commentary: Futures slide amid wetter weather forecast 22 Dec 2020 Soybean futures in Chicago ran out of steam on Friday after having … Conversion Soybeans Price Price; 1 Bushel ≈ 0,035 m³ Soybeans Price Per 1 m³ 355.29 USD 1 Bushel ≈ 35,239 Liter We provide unique charts and forecasts for stock market futures, oil, gold and commodity futures trading. Price target in 14 days: 43.120 USD. That boosted the weekly gain for January futures to 59 1/2 cents from Friday to Friday. Downtrend scenario Georgia’s soybean yield prediction was increased from 39 bushels per acre in October to a record-high 43 bushels per acre. Soybean Weekly Forecast Sunday, November 08, 2020. Read through our forecasts descriptions to get a better idea of how the calculations are applied to the current price each day. Prices for S belong to our Commodity Futures Grains area, and are end of day only. Here is my Soybean Futures Forecast. Price target in 14 days: 439.969 USD. Buying soybean futures is risky. Soybean Meal (ZM) Futures Price Forecast. Soybean futures edged higher during H2 of 2020. Soybean futures and options are an easy, liquid tool for speculating or hedging against price movements for one of the world’s most widely grown crops. The USDA forecast the average price of soybean oil at Central Illinois processors for October 2020 through September 2021 at 34 cents per pound this month roughly 4 cents under current near by futures quotes. Strong Chinese demand and skepticism surrounding production levels supported this rally. The Trading Economics Application Programming Interface (API) provides direct access to our data. September 23, 2020 admin. Projected increase in demand from China to support price rally. Next to my weekly (and mid-week) Forex, crypto currency, commdity energy, commodity metals, indices and stock forecasts I’m adding agricultural commodities to it. Our forecasts are based on end of day prices. 2019 2020 2021 Soybean Futures prices Long-term forecast, up to 1200, CME CBOT: ZS In between, down days of 5 to 7 days Dec 8th was the last down day on this run, so its due for a retracement. The USDA said U.S. soybean production is forecast at 4.17 billion bushels, down 98 million from the previous forecast due to lower crop yields. Soybean Futures bounced in 3 waves to 902’0 high and broke below the low at 868’6 suggesting next leg lower had started. ET Soybean Meal Futures (SM) - Trend Forecast Updated on 2020-10-16 for Todays Trading Session. Learn everything you need to know to start investing in soybean futures today. China is the biggest importer of soybeans (60% of total imports) followed by the European Union, Mexico, Japan and Taiwan. Get the latest Soybeans price (ZS) as well as the latest futures prices and other commodity market news at Nasdaq. Soybeans Futures (S) - Trend Forecast Updated on 2020-10-16 for Todays Trading Session. S oybean meal is used in food and animal feeds, principally as a protein supplement. 1. Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybean numbers will not be finalized until at least the June Crop Production report and will depend largely on weather in the coming weeks. You can see pivot points for all other symbols within the Commodity Futures Grains section by visting each detailed price page. Prices for SM belong to our Commodity Futures Grains area, and are end of day only. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Soybean futures poised to finish at another 4-year high as USDA cuts soybean production forecast Published: Nov. 10, 2020 at 12:47 p.m. End of day prices only. The Recent Rise in Dow Jones Futures Trading. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The uptrend may be expected to continue, while market is trading above support level 1063, which will be followed by reaching resistance level 1180. Latest S Futures chart forecast for Soybeans Futures. If realized, Georgia soybean production in 2020 is forecast at 4 million bushels, up 328,000 bushels (10%) from NASS’ October forecast and up 60% from 2019. 1977-2020 Data | 2021-2023 Forecast | Price | Quote | Chart | Historical. This/Next Week Forecast (November 9 - 13, 2020) Uptrend scenario Download historical data for 20 million indicators using your browser. Monthly Forecast. It’s even more so when basing trading on weather forecasts. Soybean Price Forecast. 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