Soybeans are trading with 7 to 13 cent gains at midday, led by the meal. The cmdtyView national average Cash Bean price is up 13 cents at $11.10 1/4. Soymeal futures are rallying $12 to $15 at midday, with Soy Oil futures down 50 to 53 points on Friday.Â
USDA reported a private export sale of 100,000 MT of soybean meal to Italy this morning.
Export Sales data from Thursday has export commitments at 37.905 MMT, a 18% drop from the same period last year. Â That is now 90% of the new USDA estimate and behind the 95% average pace. Shipments at 30.52 MMT are 73% of the USDA number, lagging the 84% average pace.
USDA released their monthly WASDE report this morning showing a few changes in the demand projections, with a 35 mbu increase to crush. Exports were trimmed by 35 mbu to take the overall change in the carry out to 0 at 350 mbu. The cash average price was up a dime to $10.30.
May 26 Soybeans  are at $11.78 1/4, up 13 cents,
Nearby Cash  is at $11.10 1/4, up 13 cents,
Jul 26 Soybeans  are at $11.93, up 12 cents,
Nov 26 Soybeans  are at $11.59 3/4, up 7 1/4 cents,
New Crop Cash  is at $10.98 1/4, up 7 1/4 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. For more information please view the Barchart Disclosure Policy here.
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