Oct 21, 2021

Soybean Sales Outperform

Higher bean production in Brazil; second bumper wheat crop for Australia

USDA Attaché Report Sees Higher Bean Production in Brazil

  • The USDA FAS post in Brasilia released an attaché report yesterday forecasting 2021/22 planted acres for beans at 100.1 million acres.

  • This is up from 96.4 million acres the previous year, and marginally higher than USDA’s official 99.8 million for the current year.

  • As such, the FAS post sees production marginally higher than the official USDA numbers, 145 million tonnes versus 144 million.

  • However, exports are seen at 92 MMT, lower than USDA’s official 94.3 MMT, but still a record.

FBN’s Take On What It Means: The post sees global demand for soybeans to keep rising, increasing prices, and encouraging Brazilian farmers to expand planted acres and production. Accordingly, soybean exports are expected to reach another record in 2021/22. However, the post sees 2.3 MMT less exports than official USDA numbers on ample available supplies. Crush for 2021/22 was also revised down slightly from official numbers, but up from 2020/21 on increased supplies and demand.


USDA Attaché Report Sees Second Bumper Wheat Crop for Australia

  • The USDA FAS post in Canberra released an attaché report yesterday forecasting a second straight bumper wheat crop for Australia.

  • The post estimates 31.5 million tonnes of wheat production, down from the record 33.3 MMT last year, but still the third largest on record.

  • Rainfall has been good across the country’s growing regions, and forecasts over the coming months are also very favorable.

  • The consecutive bumper crops come following two years of drought, and as global grain demand is expected to remain high.

FBN’s Take On What It Means: Weather continues to be good for Australia and the FAS post sees another bumper wheat crop at 31.5 MMT, in line with official USDA numbers. Exports are also expected to be large at 23 MMT, down by just one million tonnes from the previous year; the post’s estimate is 500,000 tonnes lower than official USDA figures. In addition to wheat, sorghum, rice, and other summer crops are also expected to see large increases in production and exports year-over-year.

FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory (NFA ID: 0508695)

The risk of trading futures and options can be substantial and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to, persons residing in Australia and Canada.

Kevin McNew

Recently Added to Buyer's Guide

Ultra Scoop

  • 20,000 bushels/hour
  • 40-foot inclined conveyor

TruGro Weight Management for Pets

  • Plant-based ingredient solution for pet food, treats, and supplements
  • Standardized, polyphenol-rich botanical extracts containing compounds naturally occurring in green tea leaves

Access Platforms

  • Anti-slip access platforms to reach elevated process equipment safely
  • Modular system includes braced frames which can be bolted to floor

HP FiberBoost©

  • Contains functional fibers produced specifically for dietetic use in piglets
  • Fiber stimulates gut and eases transition at weaning

Huve Check-Feed

  • On-site screening test to detect monensin, including Monovet® 90, in feedstuffs
  • Produces accurate, reliable results without adding microtracer particles to feed for detection methods

VM-13.3 G

  • Industrial-grade 13.3-inch LCD monitor
  • Full HD resolution: 1920 x 1080 (1080p/60)


Marketwatch: Nov, 28

cmdty National Corn Price Idx: ZCPAUS.CM

open: 5.5712
high: 5.7406
low: 5.5262
close: 5.7276

cmdty National Soybean Price Idx: ZSPAUS.CM

open: 12.1595
high: 12.1807
low: 12.0432
close: 12.166

cmdty National Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.331
high: 8.4769
low: 8.226
close: 8.444

cmdty National Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.7213
high: 7.8263
low: 7.6213
close: 7.7716