Soybeans Holding onto Gains at Midday
Soybeans are pushing higher so far on the Friday session, as contracts are 7 to 10 cents. The national front month Cash Bean price from cmdtyView is 9 ¼ cents higher at $9.78 3/4. Soymeal futures are up $4.90/ton, with Soy Oil futures back down 8 points so far on the session. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.
NOPA data will be released this coming Tuesday, with traders looking for the report to show 204.54 MMT in January crush, up 10.1% from the January 2024 total if realized. Soy oil stocks are seen at 1.289 billion lbs.
The weekly Export Sales report showed bean sales, including both shipped and unshipped, to 43.256 MMT. That is 87% of USDA’s export projection, matching the normal pace of sales.
Mar 25 Soybeans are at $10.39 1/4, up 9 1/4 cents,
Nearby Cash is at $9.78 3/4, up 9 1/4 cents,
May 25 Soybeans are at $10.55 1/2, up 8 1/2 cents,
Nov 25 Soybeans are at $10.52 3/4, up 7 1/2 cents,
New Crop Cash is at $9.89 1/2, up 7 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.More news from Barchart
