The soybean market is trading with 3 to 5 cent gains as Wednesday’s midday. CmdtyView’s national front month Cash Bean price is up 4 1/4 cents at $9.46 1/4. Soymeal futures are 50 cents/ton lower in the front months, with Soy Oil futures 44 points higher on the day.
March 1 soybean stocks are estimated to total 1.905 bbu according to a Bloomberg survey of analysts, ahead of the March 31 Grain Stocks report next Monday. The range of estimates is from 1.823 to 2.016 bbu.
Commodity Bulletin: From crude oil to coffee, this FREE newsletter is for industry pros and rookies alike
Soybean exports out of Brazil in March are expected to total 15.56 MMT, according to ANEC, steady with the estimate from the week prior. Meal exports are estimated at 2.3 MMT, down 0.3 MMT from the previous number.
May 25 Soybeans closed at $10.06, up 4 1/4 cents,
Nearby Cash was $9.46 1/4, up 4 1/4 cents,
Jul 25 Soybeans closed at $10.19 3/4, up 4 1/4 cents,
Nov 25 Soybeans closed at $10.10 3/4, up 4 1/4 cents,
New Crop Cash was $9.46, up 3 1/2 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.
