Midday soy quotes are red, led by the meal. Soymeal futures are $4 weaker past the in-delivery Jan contract. Bean futures are trading with 7 to 8 1/2 cent losses so far. BO prices are 9 to 13 points in the red so far.
The EU reported 5.52 MMT of soybean imports for the season from July 1 through Jan 1. That trails last year by 16%. Rapeseed imports were up 38% yr/yr with 3.73 MMT brought in. Soymeal imports were 8.04 MMT for the season compared to 8.3 MMT last year.
The monthly Fats and Oils data showed crushers used 189.464 mbu of soybeans during November. That was a 3.6% drop from October and a 0.6% lighter crush than Nov ’21. Through Q1, 553.69 mbu of soybeans were crushed. That is 2.05 mbu ahead of last season’s pace – with the Dec WASDE forecasting a 41 mbu increase yr/yr. The MYTD pace is 24.7% of the current forecast, needing a 188 mbu/month pace.
Brazilian export data showed 2.019 MMT of soybean exports for December. That compares to 2.712 MMT for Dec of ’21.
Jan 23 Soybeans are at $14.80 3/4, down 6 1/2 cents,
Nearby Cash is at $14.53, down 6 3/4 cents,
Mar 23 Soybeans are at $14.85 3/4, down 6 1/2 cents,
May 23 Soybeans are at $14.92 3/4, down 6 1/4 cents,
On the date of publication, Alan Brugler 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.
/Berskshire%20Hathaway%20Warren%20Buffett%20image%20by%20QubixStudio%20via%20Shutterstock.jpg)
/AI%20(artificial%20intelligence)/Artificial%20intelligence%20and%20machine%20learning%20concept%20-%20by%20amgun%20via%20iStock.jpg)
/Quantum%20Computing/A%20concept%20image%20with%20a%20brain%20on%20top%20of%20a%20blue%20circuit%20board_%20Image%20by%20Gorodenkoff%20via%20Shutterstock_.jpg)
/EV%20in%20showroom%20by%20Robert%20Way%20via%20Shutterstock.jpg)
/Berkshire%20Hathaway%20Inc_%20logo%20on%20phone-by%20FelloeNeko%20via%20Shutterstock.jpg)