Beans Close Mixed for Tuesday

Soybean futures ended the session mixed within 3 cents of UNCH. New crop prices settled the day in the black, but 3c off their session highs. Old crop prices ended the day in the red, but ~4 cents off their session lows. Soymeal futures closed Tuesday with $1.70 to $2 gains. Soy Oil futures went home with 56 to 60 point losses across the front months.  

Brazil’s AgRural had soybean harvest at 63% complete as of 3/14. That was up from 55% last week and remains ~1% point ahead of last year’s pace.  

USDA reported 686,181 MT of soybeans were exported during the week that ended 3/14. That was a decline from 784k MT inspected last week and from 720k MT during the same week last year. USDA added late reported soybean exports to past weeks which put the season’s total at 35.77 MMT. That compares to 44.06 MMT at this point last year. 

May 24 Soybeans  closed at $11.85 1/2, down 2 1/4 cents,

Nearby Cash   was $11.29, down 2 3/8 cents,

Jul 24 Soybeans  closed at $12.00 1/4, down 2 cents,

Nov 24 Soybeans  closed at $11.81 1/4, up 3/4 cent,