Latest news with #soymeal
Yahoo
20 hours ago
- Business
- Yahoo
Soybeans Soften Late to Close with Fractional Gains
The soybean market is trading with 3 to 5 cent gains early on Friday, with strength out of the Juneteenth holiday break. Soybeans closed the Wednesday session with contracts fractionally higher. Preliminary open interest was up 6,070 contracts, as July was down 9,391 contracts, and November was up 11,509. The cmdtyView Cash Bean price is up 1/2 cents to $10.26 1/2. Soymeal futures were down 10 to 30 cents/ton. Soy Oil was down 2 to 11 points higher on Wednesday. July options expire today. The next week is looking for heavy rains from NE, the southeast corner or SD, MN, WI and parts of MI in the next week totaling from 1 to up to 5 inches in some parts. The Southern Plains, through MO and the Eastern Corn Belt is looking at little totals. Heat is expected to hit much of the Corn Belt, with the 5-10 day looking 7-15˚F in in the ECB. What We Know About Soybeans Sugar Futures Remain Bearish- Can the Sweet Commodity Rally? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. This morning's Export Sales report is expected to show between 0 and 400,000 MT of old crop soybeans in that week, with 0 to 200,000 MT for 2025/26. Soybean meal sales are seen at 150,000 to 450,000 MT, with 0 to 32,000 MT for bean oil. Chinese soybean imports in May totaled 12.11 MMT from Brazil, well above last years according to the country's customs data. Imports originating from the US were 11.7% higher yr/yr to 1.63 MMT. Jul 25 Soybeans closed at $10.74 3/4, up 3/4 cent, currently up 3 3/4 cents Nearby Cash was $10.26 1/2, up 1/2 cent, Aug 25 Soybeans closed at $10.76 3/4, up 1/2 cent, currently up 4 1/4 cents Nov 25 Soybeans closed at $10.68 1/4, up 1/2 cent, currently up 4 1/2 cents New Crop Cash was $10.14 1/4, up 1/2 cent, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
a day ago
- Business
- Yahoo
Soybean Complex Posts Some New Highs, But Closes Lower on Friday
The soybean market settled 5 ¼ to 7 ½ lower on Friday, after hitting the highest front month prices since mid-May early in the session. The cmdtyView national average Cash Bean price is down 5 3/4 cents at $10.20 3/4. Soymeal futures settled 20 to 90 cents lower, giving up modest midday gains in favor of holding cash over the weekend. Soy Oil saw nearby July hit the highest price for the contract since 2023 this morning, but futures closed 30 to 37 points lower. July options expired in all three commodities. The weather outlook for next week has some heavy rains from NE, the southeast corner or SD, MN, WI and parts of MI totaling from 1 to up to 5 inches in some parts. The Southern Plains, through MO and the Eastern Corn Belt is looking at smaller totals. Coverage will not be uniform, however, with Omaha as an example looking at 20-40% odds on any given day. Unseasonable heat is expected to prevail over much of the Corn Belt, with the 5-10 day looking for 7-15˚F above average in the ECB. Daytime highs above 100 degrees F are seen this weekend in the Plains and WCB but will moderate by early next week. Drought Conditions Are Setting In. How Much Higher Can Wheat Prices Go? Coffee Prices Sharply Lower as Global Supply Concerns Ease Cocoa Prices Plunge as Beneficial Rain in West Africa Boosts Crop Conditions Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. This morning's Export Sales report tallied soybean sales for 202/25 exceeding the 0 and 400,000 MT trade expectations, for old crop soybeans the week of 6/12 at 539,511 MT. That was a 14-week high and 8.3% above the same week in 2024. New crop sales were at 75,151 MT, in the middle of the 0 to 200,000 MT estimates and the highest in 5 weeks. Soybean meal sales for last week totaled 174,302 MT, with just 160,281 MT for the current marketing year and on the low side of the trade ideas at 150,000 to 450,000 MT. Soybean oil sales were a net negative 1,473 MT on deferrals and cancellations, weaker than trade estimates of 0 to 32,000 MT for bean oil. Chinese soybean imports in May totaled 12.11 MMT from Brazil, well above last year according to the country's customs data. Imports originating from the US were 11.7% higher yr/yr to 1.63 MMT. Jul 25 Soybeans closed at $10.68, down 6 3/4 cents, Nearby Cash was $10.20 3/4, down 5 3/4 cents, Aug 25 Soybeans closed at $10.71 1/2, down 5 1/4 cents, Nov 25 Soybeans closed at $10.60 3/4, down 7 1/2 cents, New Crop Cash was $10.07 1/4, down 7 1/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
China's big feed shift to curb soybean imports, strain small farmers
BEIJING/SINGAPORE, June 18 (Reuters) - China's move to curb the use of soymeal in animal feed to reduce its dependence on imports is feasible but will be costly and technically challenging for the smaller farmers who account for one-third of Chinese pork production, industry experts say. In April, China announced a plan to lower the soymeal content in animal rations to 10% by 2030, down from 13% in 2023, as the ongoing trade war with the U.S. adds to Beijing's urgency to bolster food security. In 2017, soymeal accounted for 17.9% of Chinese animal feed, according to its agriculture ministry. If successful, China could cut annual soybean imports by roughly 10 million metric tons, equivalent to half of the $12 billion in U.S. soybean purchases China made in 2024, according to Reuters calculations and two analyst estimates, crimping demand from farmers in the U.S. and top supplier Brazil. While leading swine breeders in China have reduced soymeal use and can make further cuts by using alternative protein sources, small producers are likely to struggle with cost constraints and a greater sensitivity to impacts on animal growth, farmers, nutritionists, and analysts said. China is home to half the world's pigs. "There is a significant habitual preference among smallholders for traditional soymeal-based formulations, largely due to familiarity, trust, and perceived reliability," said Matthew Nicol, senior analyst at research firm China Policy. "Larger firms will move quickly, while smaller producers may lag or even face setbacks," he said. Soybeans are crushed in China to make cooking oil and meal, a relatively cheap and protein-rich ingredient used to fatten pigs, poultry and cattle. Soymeal is valued in feed for its optimal amino acid profile and compatibility with energy-rich grains such as corn and wheat. China, by far the world's top soybean importer, has reduced its reliance on U.S. supplies since the trade war that began during President Donald Trump's first term. China buys roughly 20% of its soybeans from the U.S., down from 41% in 2016, but still accounts for nearly half of U.S. exports of the oilseed. Already, China's use of soymeal is lower than in some regions. Hog rations in the United States are estimated to be around 15% to 25% soymeal as alternative protein sources like the corn-ethanol byproduct distillers grain and synthetic amino acids have displaced soymeal in rations at times, said Hans Stein, a swine nutritionist at the University of Illinois. Southeast Asia uses about 25% for poultry and 20% for swine, said Basilisa Reas, Manila-based regional technical director at the U.S. Soybean Export Council. By comparison, China's top hog breeder Muyuan Foods ( opens new tab cut soymeal use to 5.7% of its feed mix in 2023 from 7.3% in 2022, while Wens Foodstuff ( opens new tab reported an average soybean meal inclusion rate of 7.4% in its compound feed in 2021, according to company statements and government documents. However, smaller Chinese producers who raise 32% of the country's pigs, 63% of beef cattle and 12% of broilers typically lack the capital, technical knowledge and access to precision feed tools to cut soymeal use, analysts and nutritionists said. Data from pig-farming platform shows Chinese family farms typically use 15% to 20% soymeal. A veteran pig farmer surnamed Wang, who raises 200 to 300 pigs in northern China's Shanxi province, uses 18% soymeal in his sow feed and believes a lower-soymeal diet would slow weight gain and prolong the production cycle. "With high-soymeal diets, I can feed less," he said. "With low-soymeal feed, I need to feed more - or the pigs get too thin." Soymeal replacements typically involve a mix of protein substitutes such as rapeseed meal, palm kernel meal, rice bran, and fish meal or are supplemented with synthetic amino acids, Reas said. In its April announcement, China's agriculture ministry encouraged alternatives such as synthetic amino acids, fermented straw, high-protein corn and non-grain proteins including microbial protein, insect protein and kitchen waste. It targets non-grain protein production topping 10 million tons by 2030. Since the first Trump administration trade war, China has also been promoting "low-protein feed technology," which typically reduces soymeal reliance by supplementing animal diets with synthetic amino acids, especially among large-scale firms. Muyuan, for instance, is collaborating with Westlake University in Hangzhou on synthetic biology aimed at "zero-soy" pig farming. However, synthetic amino acids can only partially replace natural protein and cannot fully meet animal digestive requirements, industry experts said. Beijing is also backing high-protein corn, with about 667,000 hectares planted. The variety contains over 10% protein, up from the standard 8%. Insect protein is also gaining ground: black soldier fly farms in Shandong and Guangdong provinces produce 100,000 tons of feed annually, currently being tested in poultry, pig, and aquaculture diets, according to the Guide to Chinese Poultry, an agriculture ministry-backed journal. Most alternatives are either more expensive or in early development. In late May, soymeal in eastern China cost 66 yuan ($9.19) per unit of protein - cheaper than lysine, a synthetic amino acid supplement used to balance animal feed, at 79 yuan per unit, and corn protein at 69 yuan, according to a Shanghai-based trader. "Chinese farming operations are ultimately going to prioritise profitability," said Even Rogers Pay, agriculture analyst at Trivium China. "As long as soymeal remains the best option in terms of price and livestock outcome, it will retain market share." ($1 = 7.1810 Chinese yuan renminbi)
