The soy market is trading lower across the board through the midweek session. Soybean Oil futures are the firmest through midday, trading mostly red within 10 points of UNCH. The soybean futures are down 2 ¼ to 7 ¾ cents at midday. Soymeal prices are $4 to $6.40/ton in the red.
Traders expect NOPA members processed 187.24 mbu of soybeans during October. That would be up 13% from September (1 less processing day) if realized and would be a new record for the month of October. The full range of estimates is from 180 mbu to 193.2 mbu. Member soy oil stocks are estimated at 1.188 billion pounds.
Jan 24 Soybeans are at $13.82, down 7 3/4 cents,
Nearby Cash is at $13.23 1/1, down 7 1/4 cents,
Mar 24 Soybeans are at $13.95 3/4, down 6 3/4 cents,
May 24 Soybeans are at $14.06 1/2, down 6 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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