Front month soybean futures are currently 2 to 4 ¾ cents higher for Wednesday. Midday Soymeal futures are $2.50 to $3.40 in the black. Soy oil futures are 45 to 54 points weaker at midday.
Analysts are looking for soybean bookings between 700k MT and 1.2 MMT in the FAS Export Sales report. New crop bean bookings are expected to be below 50k MT in the report.
Farm Futures survey results have 24/25 US soybean area at 84.95 million acres. The S&P Global estimate was to see 85.5 million acres.
Safras and Mercado updated Brazil’s soybean harvest to 5.1% complete as of 1/19. That compares to 1.7% at the same time last year. AgRural estimated harvest at 6% complete as of 1/18.
Mar 24 Soybeans are at $12.44, up 4 1/2 cents,
Nearby Cash is at $11.88 7/8, up 4 5/8 cents,
May 24 Soybeans are at $12.49 1/2, up 2 1/2 cents,
Jul 24 Soybeans are at $12.55 1/4, up 1 cent,
On the date of publication, Alan Brugler 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.
