Soybeans are showing steady trade on Tuesday, with contracts within a penny of unchanged. There were another 27 deliveries issued overnight. The cmdtyView national average Cash Bean price is down 3/4 cent at $10.9 1/2. Soymeal futures are down a dime, with Soy Oil futures 3 to 9 points lower.
The market continues to digest the unfolding Middle East situation, as China officially called for a halt to the military operations.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Monthly Fats & Oils data from Monday afternoon showed 227.8 mbu of soybeans crushed in January, exceeding estimates. That was a drop of 0.87% from December, but 87.2% above the same month last year. Soybean oil stocks rose 11.72% from the end of December to 2.43 billion lbs, which was 33.9% larger than the same period last year.
Mar 26 Soybeans closed at $11.50, unch,
Nearby Cash was $10.90 1/2, down 3/4 cent,
May 26 Soybeans closed at $11.63 3/4, down 1/4 cent,
Jul 26 Soybeans closed at $11.77 1/2, up 1/2 cent,
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
- Can Soybeans Continue to Rally?
- Soybean Market Bulls Gain Footing with Monthly USDA Report on Deck
- How Much Higher Can Soybean Prices Go After Positive Trump-Xi Talks?
- Following Record Meltdowns in Gold and Silver, Here’s What Grain Traders Are Watching This Week
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
