Soybean futures held up on the Tuesday session as USDA made minimal changes to the US or world balance sheets. Contracts were up 3 ¾ to 5 ¼ cents at the close. CmdtyView’s national front month Cash Bean price was back up 4 1/2 cents at $9.46. Soymeal futures were up $1.70 to $2.70/ton at the close. Soy Oil futures were down 5 to 12 points on the session.
The USDA decided to punt on this month’s report for the US soybean balance sheet, with not changes across the board, with exception to the cash average prices which was dropped by 60 cents to $10.20. For the world numbers, carryout was up 0.13 MMT at 131.87 MMT, as Brazilian production was left at 169 MMT and Argentina was up 1 MMT to 52 MMT.
ANEC estimates the Brazilian December soybean exports at 1.57 MMT, a 0.33 MMT increase from their previous number. China’s soybean imports in November were tallied at 7.15 MMT, which takes the calendar year total to 97.09 MMT, a 9.4% increase from last year.
Jan 25 Soybeans closed at $9.94 3/4, up 4 3/4 cents,
Nearby Cash was $9.46, up 4 1/2 cents,
Mar 25 Soybeans closed at $10.00 1/4, up 4 3/4 cents,
Jul 25 Soybeans closed at $10.20 1/2, up 3 3/4 cents,
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