Soybeans Slip on Tuesday
Soybean futures were mixed at the close, with front months down 4 to 6 cents and some new crop contracts firm. CmdtyView’s national front month Cash Bean price was down 5 1/4 cents at $9.41. Soymeal futures were steady to $2.70/ton lower in most contracts at the close, with Soy Oil futures 15 to 34 points higher on the day.
Heading into the Prospective Plantings report in Monday, traders are expecting to see 83.8 million acres of soybeans on average. That is according to a Bloomberg survey, with a range of 82.5 to 85.5 million acres.
EU soybean imports have totaled 9.84 MMT from the first of July to March 23, compared to 9.23 MMT for the same time period last year. Meal imports are at 13.6 MT, well above the 10.73 MMT from the year prior.
May 25 Soybeans closed at $10.01 3/4, down 5 1/2 cents,
Nearby Cash was $9.42, down 5 1/4 cents,
Jul 25 Soybeans closed at $10.15 1/2, down 4 cents,
Nov 25 Soybeans closed at $10.06 1/2, unch,
New Crop Cash was $9.43 1/2, unch,
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.