
Nearby soybean futures are up another double digits through midday. Beans are 18 to 20 1/4 cents in the black so far, which for Jan has them at a net gain for the week. Soymeal is leading the way so far, with +$8/ton gains of 2.3% to 3.07%. BO futures are 126% to 154% in the black as well.
USDA announced a private export sale for 122k MT of soybeans this morning to unknown destinations.
Canadian Canola Prices are trading off the highs as well, but are still black with a 0.35% boost to 1,026.6 CAD/MT.
StatsCan data released this morning reported Canada’s 2021 canola crop at 12.59 MMT. That was below the 12.8 MMT average estimate, but was within the 11.5 – 14.0 MMT expected range. Soybean output was 6.2, when the trade was looking for a 5.8 MMT figure. USDA had Canadian output at 13 MMT and 5.9 MMT respectively in their November forecast.
Jan 22 Soybeans are at $12.63 1/2, up 19 1/4 cents,
Nearby Cash is at $12.30 1/8, up 19 cents,
Mar 22 Soybeans are at $12.68, up 18 cents,
May 22 Soybeans are at $12.75 1/2, up 18 1/2 cents,
New Crop Cash is at $11.68 1/2, up 12 7/8 cents,