Midday soybean futures are UNCH to 1 ¾ cents lower in the old crop contracts, but up by as much as 3 ½ cents in the new crop contracts. Nov has seen a 9 ½ cent range so far spent on both sides of UNCH. Soymeal futures are trading off their lows for the day with $0.50 to $1.10 gains at midday. Soy Oil futures are still in the red at midday, though are also off their session lows.
Brazil’s AgRural had soybean harvest at 63% complete as of 3/14. That was up from 55% last week and remains ~1% point ahead of last year’s pace.
USDA reported 686,181 MT of soybeans were exported during the week that ended 3/14. That was a decline from 784k MT inspected last week and from 720k MT during the same week last year. USDA added late reported soybean exports to past weeks which put the season’s total at 35.77 MMT. That compares to 44.06 MMT at this point last year.
May 24 Soybeans are at $11.87 3/4, unch,
Nearby Cash is at $11.31 1/2, up 0 cent,
Jul 24 Soybeans are at $12.03, up 3/4 cent,
Nov 24 Soybeans are at $11.83 1/4, up 2 3/4 cents,
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