Soybean Jul '20 (ZSN20)
Soybean Futures Market News and Commentary
After trading with midday gains, front month bean futures end the first day of June fractionally lower to 1 3/4 cents higher. Soybean meal futures were 10 to 60 cents lower on Monday, and soy oil futures were up 22 to 25 points. April soy crush from the Fats and Oils report was just above the average expectation with 183.4 mbu processed. That was 4.6% below March crush due to one less calendar day. Meal and oil production were also down 4.6% mo/mo with 4.04m tons and 2.1m lbs produced respectively. Soy oil stocks on hand at the end of April were 2.6b lbs. US soybean planting progressed 10 percentage points wk/wk to 75% complete. The average is 68%. Bean emergence was 52%, up 17 ppts and 8 ppts above average. Initial soybean ratings were 70% good/ex with a 375 Brugler500 score. USDA’s weekly Export Inspections report showed 14.6 mbu of soybeans were shipped in the week ending May 28. That was 18% above last week’s exports, but 22% lower yr/yr. Accumulated bean shipments were 1.3 bbu... Read more
- Rolling Out on My Short Soybean Oil Spread
I expect continued weakness in Soybean Oil
- Heartland Morning Update
China is expected to cancel pork purchases , and whatever beef ideas they had are also on the back burner. Livestock prices look to open lower to possibly...
- Avoid Long Side of Grains?
It just now hit the wires that...............