The Tuesday trade has the soy complex red across the board with 1 to 7 cent losses in beans so far, $1.10 to $1.80/ton losses in meal, and 33 point weaker soy oil quotes.Â
Analyst estimates average 181.656 mbu for January soy crush by NOPA members. That would be up from the low December figure, but still 0.3% lower year/year. The full range of NOPA crush estimates in a limited survey runs from 176.98 to 187 mbu.Â
Weekly soybean exports were again an excellent 1.555 MMT according to the weekly inspections data on Monday. That was down from 1.915 MMT last week but was still larger than the 1.233 MMT shipped during the same week last year. China was the destination of 998,660 MT of the total. USDA also added 85k MT to past reports, bringing the season’s total to 39.540 MMT. That is 1.6% ahead of last year's pace.Â
Brazil’s soybean harvest was 17% finished according AgRural, trailing last year’s 24% pace.  IMEA showed rapid harvest progress in Mato Grosso over the past week, putting it at 44% complete.Â
Mar 23 Soybeans  are at $15.37 1/2, down 5 1/4 cents,
Nearby Cash  is at $14.92 1/4, down 8 1/8 cents,
May 23 Soybeans  are at $15.29 1/2, down 6 1/2 cents,
Jul 23 Soybeans  are at $15.18 3/4, down 6 3/4 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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