The soy market ended the day mixed with weaker meal. The front month soymeal prices settled $0.10 to $1.80 in the red on the day. Soybeans and bean oil each rallied to start the week with 1% to 1.3% and 2% to 2.1% gains respectively. For the new crop beans that was the 7th green candle for the last 8 sessions on a net 74 3/4 cent move. The new crop soy/corn ratio was 2.348 at the close.Â
Monthly soy processing was marked at 176.882 mbu for February according to the NASS Fats and Oils report. Analysts were looking for a 175.7 mbu figure. Feb’s crush was down 7.45% from January’s total, but the crush/day was up 2.5%. That was also a record for the month of February. Soybean oil stocks were shown at 2.362 b lbs, up 0.2% mo/mo.Â
USDA announced a private export sale for 20k MT of soybean oil to unknown destinations with 22/23 delivery.Â
Weekly soybean exports were reported at 18.337 mbu during the week that ended 3/30. That was down from 32.8 mbu last week and from 27.28 mbu during the same week last year. The accumulated soybean shipment was 1.67 billion bushels MYTD through 3/30. That is 2.8% ahead of last year’s pace.Â
May 23 Soybeans  closed at $15.22, up 16 1/2 cents,
Nearby Cash  was $14.81 3/8, up 6 1/2 cents,
Jul 23 Soybeans  closed at $14.95, up 19 1/2 cents,
Nov 23 Soybeans  closed at $13.32 3/4, up 13 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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