The front month soy futures market is mixed, opposite of yesterday, to start the new month of trading. Soybeans are currently backing off by 3 to 5 cents so far, with meal $2.70 to $3.60 weaker. BO is mostly higher, within 10 points of UNHC. Yesterday, soybeans and meal traded higher on the last day of the month while soybean oil was left out. Soybean Oil futures closed near the day’s lows on 1.4% to 1.8% losses as the complex outlier. Soybean futures closed with 1 ¾ to 4 ¼ cent gains on the day, leaving the Nov contract at a net 12c gain for the month. Soymeal futures went home $3.60 to $4.50/ton gains on the day.
CME had another 438 deliveries put out against Nov beans with StoneX clients stopping most of them.Â
USDA reported a 239,492 MT soybean sale to Mexico on Tuesday morning. Â
Brazil’s AgRural had soybean planting advance 10% points through the week to 40% of the expected area. That is 6% points behind last year. The major bean ground in Center-South Brazil was reported at 53% planted from 56% last year.Â
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Nov 23 Soybeans  closed at $12.87, up 4 1/4 cents, currently down 1/4 cent
Nearby Cash  was $12.40 7/8, up 6 cents,
Jan 24 Soybeans  closed at $13.10 1/2, up 3 1/4 cents, currently down 2 3/4 cents
Mar 24 Soybeans  closed at $13.24 3/4, up 2 1/2 cents, currently down 3 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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