Soybeans are doing well heading into the weekend
Soybeans showed stronger trading action on Friday as the contract closed 10 to 15 cents higher. In May he was down 11 cents and in November he was down 8 and a half cents, so this week still saw some weakness. soybean meal Futures rose by $5.40 to $8.20 per tonne. soybean oil This week, they continued to be hampered by their complex, giving up 26 points last month.
This morning, a private export sale of 124,000 tonnes of soybeans to an unknown destination was reported as a shipment of old produce. NOPA's latest data for March was released on Monday, with the trade expecting 197.79 mbu of beans to be crushed among its members during the month. Soybean oil inventories are pegged at 1.792 billion pounds.
China's soybean imports totaled 5.54 MMT in March, down 20% from the same month last year and the lowest level for the same month in four years. The total for the first quarter was 18.58 MMT, the lowest level since 2020.
Safras & Mercado's estimate of Brazil's soybean production increased by 2.65 MMT from the previous estimate of 151.25 MMT. This falls between USDA's 155MMT and CONAB's 146.5MMT. BAGE lowered Argentina's production forecast by 1.5 to 51 MMT.
May 24th Soybean It closed 14 3/4 cents higher at $11.74.
cash near me 11.20 1/1 dollar, up 14 3/4 cents.
July 24th Soybean It closed 14 1/4 cents higher at $11.86 3/4.
November 24th Soybean It closed 12 cents higher at $11.76 1/4.
new crop cash It gained 12 1/4 cents to $11.13 3/4.
On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Summarize this content to 100 words
Soybeans showed stronger trading action on Friday as the contract closed 10 to 15 cents higher. In May he was down 11 cents and in November he was down 8 and a half cents, so this week still saw some weakness. soybean meal Futures rose by $5.40 to $8.20 per tonne. soybean oil This week, they continued to be hampered by their complex, giving up 26 points last month.This morning, a private export sale of 124,000 tonnes of soybeans to an unknown destination was reported as a shipment of old produce. NOPA's latest data for March was released on Monday, with the trade expecting 197.79 mbu of beans to be crushed among its members during the month. Soybean oil inventories are pegged at 1.792 billion pounds.
China's soybean imports totaled 5.54 MMT in March, down 20% from the same month last year and the lowest level for the same month in four years. The total for the first quarter was 18.58 MMT, the lowest level since 2020. Safras & Mercado's estimate of Brazil's soybean production increased by 2.65 MMT from the previous estimate of 151.25 MMT. This falls between USDA's 155MMT and CONAB's 146.5MMT. BAGE lowered Argentina's production forecast by 1.5 to 51 MMT.May 24th Soybean It closed 14 3/4 cents higher at $11.74.cash near me 11.20 1/1 dollar, up 14 3/4 cents.July 24th Soybean It closed 14 1/4 cents higher at $11.86 3/4.
November 24th Soybean It closed 12 cents higher at $11.76 1/4.
new crop cash It gained 12 1/4 cents to $11.13 3/4.On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/soybeans-bounce-into-the-weekend Soybeans are doing well heading into the weekend
