Beans are trading mixed with new crop weakness and 1 1/4 cent gains through the AM trade. BO is up in so far as well, though meal remains red into the day session. Front month soybean futures ended the day on 8 1/4 to 11 1/4 cent losses. Old crop held above the $15/bu mark, though July traded below the level during the session. Meal prices closed with $3.50 to $6.90 losses. BO prices went home 67 to 97 points lower.
Ahead of the weekly Export Sales report, traders estimate between 600k MT and 1.2 MMT of soybeans were sold during the week that ended 1/12. New crop bookings are estimated to come in below 100k MT. Meal sales are estimated under 250k MT for 22/23 delivery. BO sales are expected to be under 10k MT for both old crop and 23/24.
China reported 10.13 MMT of soybeans were imported during the month of December.
Mar 23 Soybeans closed at $15.14 3/4, down 9 3/4 cents, currently up 2 1/4 cents
Nearby Cash was $14.79 7/8 on Thursday, down 10 1/8 cents,
May 23 Soybeans closed at $15.11 1/2, down 10 cents, currently up 2 cents
Jul 23 Soybeans closed at $15.03 3/4, down 11 1/4 cents, currently up 1 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. For more information please view the Barchart Disclosure Policy here.
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