Soybean Futures Red at Midday

The front month soy complex is mixed at midday, with gains for meal. March soymeal is back up by $32/ton ahead of expiration, as the other nearby contracts are up $9. Soybean oil is giving back triple digits, with May down 2.4%. Beans are mostly red, though losses are limited to an 8 1/2 cent loss for the November contract. The nearby soybeans are down a penny to 3 cents. 

Export Inspections data showed 772,719 MT of soybeans were shipped during the week that ended 3/10. That was up just 4k MT from the week prior, but was 41% above the same week last year. Accumulated bean shipments still trail last year’s pace by 21% with 42.15 MMT shipped as of 3/10. 

May 22 Soybeans  are at $16.72 1/4, down 3 3/4 cents,

Nearby Cash   is at $16.15 5/8, down 2 3/8 cents,

Jul 22 Soybeans  are at $16.49, down 2 1/4 cents,

Nov 22 Soybeans  are at $14.81 3/4, down 9 1/4 cents,

New Crop Cash   is at $14.30 1/1, down 11 1/2 cents,