Weekly Recap – Grains Fall Sharply to Start Monday

Soybean futures continued higher last week, values advanced on a weekly basis for the fourth consecutive week and are up 13 percent for the period. Global supply continues to be a market concern.  Rains in South America are helping to ease some of those worries and thoughts that Chinese demand may begin to abate are helping as well. Brazil recently announced they will allow imported soybeans and soybean oil for biodiesel production.  This announcement could add to export interest. Soybean exports fell below analyst expectations last week, but the current crop year export pace is more than double last seasons. Soybean futures are at their highest levels since 2016, although futures are down considerably to start this week (down 20 cents per bushel at noon…