Soybeans closed the Tuesday session with contracts down 4 to 5 ¾ cents lower. The cmdtyView national average Cash Bean price was 5 1/2 cents lower at $9.82 3/4. Soymeal futures were up 70 cents to $1.60 in the front months and down 10 to 20 cents in the deferred contracts, with Soy Oil futures 4 to 10 points lower.
USDA reported a private export sale of 190,000 MT of soybean meal to the Philippines this morning.
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Monday morning’s Export Inspections report showed 1.34 MMT (49.1 mbu) of soybeans shipped in the week of 1/15. That was 16.1% below the week prior but 35.1% larger than the same week last year. China was as the largest destination of 611,983 MT, with 116,120 MT shipped to Germany and 106,120 MT to Mexico. The marketing year total is now 19.335 MMT (710.44 mbu) of soybeans shipped, which is now 40.2% below the same period last year.
Brazilian soybean harvest is estimated at 2% complete as of last Thursday according to AgRural. ANEC estimates the Brazilian soybean export for January at 3.79 MMT, a 0.06 MMT increase from last week’s number.
Mar 26 Soybeans closed at $10.53, down 4 3/4 cents,
Nearby Cash was $9.82 3/4, down 5 1/2 cents,
May 26 Soybeans closed at $10.64, down 4 3/4 cents,
Jul 26 Soybeans closed at $10.76 1/4, down 5 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.
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