Soybeans and meal are trading weaker while the BO futures are adding to their weekly strength. Soy Oil futures are currently 40 points stronger so far. Midday soybean prices are down by 4 to 5 cents so far. Soymeal futures are currently down by $3/ton.
NOPA members reported crushing 186.2 mbu in February which was more than expected and a new record for the month. It was also up 0.2% from January. Soy oil stocks were 1.69 billion lbs compared to 1.51 billion last month.Â
USDA’s Ag Attache reduced the Argentina soy crop to 49.5 MMT.Â
The weekly Export Sales report showed 375,980 MT of soybeans were booked during the week that ended 3/7. USDA marked the season’s commitments at 1.457 bbu, which is 20% behind last year’s pace - the WASDE balance sheet has full year exports forecasted 13.7% below last year’s total.
May 24 Soybeans  are at $11.89 3/4, down 5 1/2 cents,
Nearby Cash  is at $11.33 1/1, down 5 3/8 cents,
Jul 24 Soybeans  are at $12.04, down 5 3/4 cents,
Nov 24 Soybeans  are at $11.81 1/2, down 5 1/2 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.
/Quantum%20Computing/A%20concept%20image%20showing%20a%20ray%20of%20light%20passing%20through%20cyberspace_%20Image%20by%20metamorworks%20via%20Shutterstock_.jpg)
/International%20Business%20Machines%20Corp_%20logo%20on%20storage%20rack-by%20Nick%20N%20A%20via%20Shutterstock.jpg)
/Super%20Micro%20Computer%20Inc%20HQ%20photo-by%20Tada%20Images%20via%20Shutterstock.jpg)