Soybean May '20 (ZSK20)
Soybean Futures Market News and Commentary
Soybean options expired, with futures having posted 3/4 to 2 1/4 cent losses in the front months. March beans were the weakest on Friday and ended the week 3 1/4 cents lower than last Friday’s close. March meal futures were $3.70/ton lower on Friday which pushed futures negative on the week. Soybean oil was 52 points higher on Friday, for a 7 point gain wk/wk. The CFTC’s weekly update showed soybean spec traders were less net short on 02/18, with managed money OI lower. Soybean meal spec traders expanded their largest net short on record. The weekly Export Sales report from USDA showed 494,277 MT of soybean bookings on the week ending 02/13. That was below the estimated range, and 13.3% lower wk/wk. New crop soybean sales were 3,360 MT for the same week. Weekly shipments from the report were 957,812 MT, which was 5.4% higher than the same week last year. MYTD soybean exports total 28.406 MMT, which is 21.9% above than last year’s pace. Soybean sales to China totaled 11,484 MT or onl... Read more
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