
The last trading day for November left soybean futures 22 to 26 cents in the red. For Jan futures, that finished the month with a 31 3/4 cent loss, though futures were within a broad $1.08 range ($11.81 1/4 to $12.89 1/4) for the month. For soymeal, Tuesday trading left prices mixed within $1 of UNCH. Soybean oil prices were the weak link of the complex, having given back 4.88% to 5.4% during the day. December BO closed 315 points in the red to 55.11 cents/lb.
USDA announced a private export sale for 132k MT of soybeans to unknown this morning.
Ahead of tomorrow’s USDA monthly soy crush data, traders surveyed expect October crush to come in at 195.6 mbu. For BO stocks, the average pre-report estimate is to see 2.34 billion lbs.
Brazil’s National Energy Policy Council issued a statement declaring the minimum 10% biodiesel content level will remain in effect through 2022. The CNPE lowered the minimum requirement from 13% in September of this year due to high input costs.
Jan 22 Soybeans closed at $12.17 1/4, down 24 1/4 cents,
Nearby Cash was $11.83 3/4, down 22 3/4 cents,
Mar 22 Soybeans closed at $12.26 1/2, down 25 1/2 cents,
May 22 Soybeans closed at $12.35 1/4, down 26 cents,
New Crop Cash was $11.44 3/4, down 20 1/4 cents,