Soybeans are showing 10 to 12 cents on Tuesday, with new crop November up just 4 ½ cents. CmdtyView’s national front month Cash Bean price is up 12 1/2 cents at $9.40 ½. Soymeal futures are up $2.30/ton, with Soy Oil futures back down 15 points.
The addition 50% tariffs on China are set to go into effect tomorrow April 9, taking the new total to 104% on all Chinese goods.
The coalition of oil and biofuel industry reps asked the EPA to set the new biodiesel volume at 5.25 billion gallons, according to a Reuters report.
USDA will update the US and World balance sheets on Thursday via the monthly WASDE. The trade is looking for US carryout to be tallied at 379 mbu according to a Reuters survey of analysts, vs. 380 mbu in last month’s report.
May 25 Soybeans are at $9.94 3/4, up 11 3/4 cents,
Nearby Cash is at $9.40 1/2, up 12 1/2 cents,
Jul 25 Soybeans are at $10.07 1/4, up 10 1/4 cents,
Nov 25 Soybeans are at $9.85 1/2, up 4 1/2 cents,
New Crop Cash is at $9.23 1/4, up 4 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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