Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Futures  >  Chicago Board Of Trade  >  WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1       

WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
My previous session
Most popular
End-of-day quote. End-of-day quote  - 08/14
541.25 USc   +1.45%
08/14GRAIN HIGHLIGHT : Top Stories of the Day
DJ
08/14Soybean Futures Rise on Argentine Tax Freeze
DJ
08/13GRAIN HIGHLIGHT : Top Stories of the Day
DJ
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

U.S. Soybean Farmers Growing Record Crop as China Imposes Tariffs--Update

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/10/2018 | 07:24pm CEST

By Benjamin Parkin

U.S. soybean farmers are due for a record harvest, even as Chinese tariffs threaten demand for the American oilseed.

The U.S. Department of Agriculture forecast on Friday that U.S. soybean production in 2018-19 would rise to an all-time high of 4.6 billion bushels, up from 4.4 billion bushels a year earlier and more than analysts expected. Soybean yields also are due to rise from the previous year.

The larger bounty will contribute to a growing domestic surplus, the agency said, with stockpiles in 2018-19 expected to climb to a record 785 million bushels, 80% above the same time a year earlier. Global soybean stocks also are due to increase, according to the USDA.

The growing supplies come after China, the world's largest consumer of soybeans, introduced retaliatory tariffs of 25% on American crops in July. That sent soybean futures at the Chicago Board of Trade to their lowest level in nearly a decade in July as traders bet that producers would be faced with a glut of the crop.

The agency expects U.S. soybean exports to fall in 2018-19 from a year earlier, though analysts expect American merchants to attract more interest from non-Chinese sources.

Soybean futures for August tumbled 3.6% to $8.55 1/2 a bushel after Friday's report.

Write to Benjamin Parkin at Benjamin.Parkin@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1 1.54% 362 End-of-day quote.2.00%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 1.45% 541.25 End-of-day quote.28.04%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WHEAT FUTURES (ZW) - CBE (
08/14GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
08/14Soybean Futures Rise on Argentine Tax Freeze
DJ
08/13GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
08/13USDA CROP PROGRESS : Spring Wheat Condition/Progress-Aug 13
DJ
08/13USDA CROP PROGRESS : Corn Condition/Progress-Aug 13
DJ
08/13USDA CROP PROGRESS : Winter Wheat Progress-Aug 13
DJ
08/13Soybeans Recover After Tumbling to Multiweek Low
DJ
08/10GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
08/10U.S. Soybean Farmers Growing Record Crop as China Imposes Tariffs--Update
DJ
08/10U.S. Soybean Farmers Growing Record Crop as China Imposes Tariffs--Update
DJ
More news
Chart WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
Duration : Period :
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WHEAT FUTURES (ZW) - CBE (
Short TermMid-TermLong Term
TrendsBullishBullishBullish