Soybeans (P) Futures PricesWed, Dec 11th, 2013
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Soybeans futures closed 4 to 6 cents higher on the day. The Mar 14 contract led the way and closed with gains of more than a nickel. The Dec 13 soybean meal and soybean oil contracts will expire on Friday. Soybean export sales are expected to be 750 -950 thousand metric tonnes (TMT). Expectations for soybean cake and meal are between 100-200 TMT, and are between 0-30 TMT for soybean oil. The export market has been active, with South Korea tendering to purchase up to 110,000 MT of optional origin soybean meal for May arrival. Taiwan has tendered to purchase 12,000 MT of US soybeans. There have been zero deliveries against the December meal contract, and the shorts are being pressed. The DTN National Soybean Index was down 5 cents from the previous day $12.99.
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