Soybean products slightly increased compared to beans
For the past month, soybean futures traded in a relatively narrow range on Wednesday, from +4.5 cents to -7 3/4 cents (May). At the close, futures were down just 3 cents. soybean meal Futures closed up $0.50/tonne. soybean oil At the time of liquidation, futures prices were 26-28 points higher. it is, CME synthetic soybean crush The spread rose 11 cents to 89 cents last month. Milling rates for new soybeans were up to 96 1/4 cents per bushel.
Export sales forecast for the week of 2/29 is between 175,000 and 800,000 tonnes for old crop beans and less than 50,000 tonnes for new crop beans. Traders want USDA to report meal reservations between 175,000 and 600,000 tons. Traders expect soybean oil sales to be less than 10,000 tonnes, with potential cancellations.
The official shipment volume of Brazilian soybeans in February was 6.61 MMT. This is an increase from 5MMT in February 2023.
AgRural’s Brazilian soybean harvest reached 48%, which is still 5 percentage points above last year’s pace.
March 24th Soybean It closed down 1/2 cent at $11.40 1/4.
cash near me 5/8 was $10.90, down 1/2 cent.
May 24th Soybean It ended down 3/4 cent at $11.48/1/4.
July 24th Soybean It closed down 1/4 cent at $11.58 3/4.
November 24th Soybeans It ended 2 cents lower at $11.42 1/4.
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
For the past month, soybean futures traded in a relatively narrow range on Wednesday, from +4.5 cents to -7 3/4 cents (May). At the close, futures were down just 3 cents. soybean meal Futures closed up $0.50/tonne. soybean oil At the time of liquidation, futures prices were 26-28 points higher. it is, CME synthetic soybean crush The spread rose 11 cents to 89 cents last month. Milling rates for new soybeans were up to 96 1/4 cents per bushel. Export sales forecast for the week of 2/29 is between 175,000 and 800,000 tonnes for old crop beans and less than 50,000 tonnes for new crop beans. Traders want USDA to report meal reservations between 175,000 and 600,000 tons. Traders expect soybean oil sales to be less than 10,000 tonnes, with potential cancellations.
The official shipment volume of Brazilian soybeans in February was 6.61 MMT. This is an increase from 5MMT in February 2023. AgRural’s Brazilian soybean harvest reached 48%, which is still 5 percentage points above last year’s pace. March 24th Soybean It closed down 1/2 cent at $11.40 1/4.cash near me 5/8 was $10.90, down 1/2 cent.May 24th Soybean It ended down 3/4 cent at $11.48/1/4.
July 24th Soybean It closed down 1/4 cent at $11.58 3/4.
November 24th Soybeans It ended 2 cents lower at $11.42 1/4.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/soy-products-gain-on-beans-slightly Soybean products slightly increased compared to beans