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Tag Archives: soybeans

#SOYBEAN FUTURES HIT SIX-MONTH HIGH

A truckers’ strike in Brazil, flooding in Argentina and an influx of investment in commodity markets here all came together this week to send soybean futures to a six-month high. “There’s a significant amount of interest in the ag sector of the commodity market,” said trader Jim Bower, who added that he believes the soybean… read more

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ACREAGE FORECAST

U.S. farmers will expand their plantings of corn by nearly 3% in 2016 while scaling back slightly on soybeans, according to a survey of growers released by Illinois-based research and brokerage firm Allendale Inc.

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FARMING FOR PROFIT

A new study from Iowa State University agronomists shows significant portions of Iowa farmland consistently lose money and could influence many farmers to change how they use some of the acres they devote to corn and soybeans.

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ARGENTINA UPDATE

Starting today, Argentines will have full access to U.S. dollars. The exchange rate will be allowed to float after years of strict central bank control, prompting what is expected to be a 30% devaluation of the peso. Soybean exports from there expected to rise sharply.

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ARGENTINA UPDATE

Argentina will announce later today a much anticipated relaxation of currency controls on Wednesday, the government said, setting the stage for a weakening of the local peso and an increase of soybean shipments from the world’s No. 3 exporter.

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IOWA FARMLAND VALUES DECREASE

Iowa farmland values have tumbled nearly 13% since peaking in 2013 with lower corn, soybean prices.  The statewide average price of an acre is $7,366.

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EXPORT TAXES DROPPED

The new Argentine president today eliminated export taxes for grains, and lowered the rate on soybeans.  In the case of soybeans the rate will fall from 35% today to 30%, while for corn (20%), wheat (23%) and meat (9%) will be eliminated entirely.

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EXPORT TAXES

The new Argentine president will start off his new administration by eliminating the export taxes on corn and wheat. Mauricio Macri will also drop the soybean export tax rates by 5% a year until it is eliminated in seven years.

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US SOYBEAN EXPORTS SLOWING

Despite abundant supplies, U.S. soybean exports for the current marketing year (September/August) are forecast down from last year, due largely to greater competition from Brazil. Soybean production in Brazil is forecast to reach a record 100 million metric tons this year.

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STABLE SEED PRICES

A top executive at Monsanto Tuesday suggested the company expects 2016 corn seed price increases only in the low single digit gains, similar to their plans last year at planting time.  He said soybean pricing plans will be released at later date.

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