After a double digit gain to start the week, front month soybean futures are in the red with 6 to 14 cent losses for Tuesday. So far, the meal market is giving back $1.60 to $4.70/ton. Bean oil futures are trading 2.6% to 2.9% in the red so far, with the May contract trading within 40 points it’s December low.Â
USDA’s weekly Export Inspections report showed 542,238 MT of soybeans were shipped during the week that ended 3/2. That was down from 765k MT last week and from 772k MT during the same week last year. Accumulated shipments totaled 42.7 MMT as of 3/2, compared to 41.48 MMT last year.Â
China reported 16.17 MMT of soybean imports for 2023 through February.Â
Brazil’s AgRural reported soybean harvest advanced by 10% points through the week to 43% complete.Â
Mar 23 Soybeans  are at $15.27, down 14 cents,
Nearby Cash  is at $14.78 1/2, down 12 1/4 cents,
May 23 Soybeans  are at $15.16 3/4, down 12 1/4 cents,
Jul 23 Soybeans  are at $15.05 3/4, down 11 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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