Soybeans are trading with mixed action on Tuesday, as front months are leaking lower and new crop November is up 5 cents. CmdtyView’s national front month Cash Bean price is down 2 3/4 cents at $9.81 1/4. Soymeal futures are up $1/ton, with Soy Oil futures down 10 points so far on the session.
CONAB estimates the Brazilian soybean crop at 3.2% harvested, behind the 8.6% pace from last year. ANEC estimates the Brazilian soybean exports during January at 1.5 MMT, a reduction of 720,000 MT from their previous estimate. That would be a drop of 21.47% from December and 31.3% below January 2024.
Dr. Michael Cordonnier estimates the Argentina soybean crop at 49 MMT, a 2 MMT reduction from his previous number. The Brazilian soybean estimate was left along at 170 MMT.
Mar 25 Soybeans are at $10.43 1/4, down 1 3/4 cents,
Nearby Cash is at $9.81 1/4, down 2 3/4 cents,
May 25 Soybeans are at $10.58, down 1/2 cent,
Nov 25 Soybeans are at $10.48 1/4, up 5 cents,
New Crop Cash is at $9.82 1/2, 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.
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