Soybeans are down 2 to 3 cents so far at Tuesday’s midday, as the market is in the middle of a tug-o-war between the products. CmdtyView’s national front month Cash Bean price is down 2 1/4 cents at $9.51. Soymeal futures are adding the pressure as we trade through the midday part of the session, with losses of $4.50/ton. Soy Oil futures are trying to lead the complex higher, up 39 points.
Brazil’s soybean exports for March are estimated to total 15.56 MMT according to ANEC, which is up 0.11 MMT from their previous estimate. Meal sales are estimated at 2.6 MMT, up 0.22 MMT from their prior number.
EU soybean imports have totaled 9.6 MMT in the MY year, which is up from 8.98 MMT in the same period last year.
May 25 Soybeans are at $10.13 1/4, down 2 1/4 cents,
Nearby Cash is at $9.51, down 2 1/4 cents,
Jul 25 Soybeans are at $10.27, down 2 1/4 cents,
Nov 25 Soybeans are at $10.16, down 2 1/2 cents,
New Crop Cash is at $9.52 3/4, down 2 1/4 cents,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
