Soybean Posts Mixed Trade, as New Crop Holds Up
The soybean market closed with mixed action on Tuesday, as front months were down 3 to 6 cents. New crop November was up 1 ¼ cents. CmdtyView’s national front month Cash Bean price was down 6 cents at $9.83. Soymeal futures posted losses of 30 cents to $2.90/ton, with Soy Oil futures were back up 60 to 101 points.
US soybeans are 2% planted as of April 13, in line with the 5-year average pace at 2%. Some fringe states were ahead of normal, including AR, LA, MS, and TN, as MO is 3 percentage points ahead of normal. All other states were at or below normal.
NOPA data from this morning showed a total of 194,55 mbu of soybeans crushed during March. That was a sharp 9.38% increase from last month but down 0.94% from last year. Soybean oil stocks were tallied at 1.498 billion pounds, which was down 19.07% from last year and 0.34% below the end of February.
May 25 Soybeans closed at $10.36, down 5 3/4 cents,
Nearby Cash was $9.83, down 6 cents,
Jul 25 Soybeans closed at $10.46 1/2, down 3 3/4 cents,
Nov 25 Soybeans closed at $10.29 3/4, up 1 1/4 cents,
New Crop Cash was $9.68 3/4, up 3/4 cent,
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.