The soybean market closed mixed on Tuesday, with front months showing bulls battling back and up 1 to 2 ¼ cents and new crop November down ¾ cent. The cmdtyView national front month Cash Bean price was up 2 1/4 cents at $9.74 3/4. Soymeal futures were up $1.80 to $2.10/ton on the day, with Soy Oil futures down 25 to 30 points on the day.
Brazil’s soybean crop is pegged at 36.4% harvested according to CONAB, lagging the same harvest pace last year of 38%. February soybean exports are estimated at 9.35 MMT, according to ANEC estimates, down from the 9.72 MMT estimate prior.
EU soybean imports have been reported at 8.95 MMT from July 1 to Sunday, according to the European Commission, up from 8.03 MMT last year.
Mar 25 Soybeans closed at $10.31 1/4, up 2 1/4 cents,
Nearby Cash was $9.74 3/4, up 2 1/4 cents,
May 25 Soybeans closed at $10.48 3/4, up 1 1/4 cents,
Nov 25 Soybeans closed at $10.51, down 3/4 cent,
New Crop Cash was $9.86 3/4, down 1 1/4 cents,
On the date of publication, Austin Schroeder 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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