Soymeal is holding onto some gains through midday, though prices are off their highs. July and August contracts are 30 and 60 cents in the black respectively. Soybean futures are 1 3/4 to 9 1/4 cents lower at midday, pressured by soy oil and sluggish exports. Soybean oil futures are trading 49 to 68 points weaker so far.Â
USDA reported 394,755 MT of soybeans were exported during the week that ended 5/4. That was down 23% from last week and was 22% below the same week last year. Of that, China was only the destination for 68,517 MT. The season’s total reached 47.855 MMT compared to 47.76 MMT last year.Â
May 23 Soybeans  are at $14.67 1/4, down 1 3/4 cents,
Nearby Cash  is at $14.17 5/8, down 3 3/8 cents,
Jul 23 Soybeans  are at $14.33 1/4, down 3 1/4 cents,
Nov 23 Soybeans  are at $12.70 1/4, down 9 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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