Front month soybean futures are currently 4 ¼ to 8 ¾ cents weaker for a turnaround Tuesday session. The $12 mark is holding for old crop so far at midday, though the new crop contracts are mostly below the round number. Soymeal futures are $1.10 to $1.50 weaker so far for midday. Soy Oil futures are also fading through midday with 50 point losses. Malaysian Palm Oil Prices reversed their Friday losses.
StatsCan data showed Canada’s Feb canola crush was 898k MT. That was up 10.6% from the same month last year. Canola oil output was 382k MT.
AgRural reported Brazilian soybean harvest at 69%, which is now trailing last year by 1 percentage point.
The weekly Export Inspections report showed 769k MT of beans were shipped during the week that ended 3/21. That was 69k MT more than last week, but was under the 893k MT shipped during the same week last year. The YTD total reached 36.55 MMT, which is now 8.4 MMT behind last year’s pace.
May 24 Soybeans are at $12.00 1/2, down 8 3/4 cents,
Nearby Cash is at $11.43 1/4, down 8 3/4 cents,
Jul 24 Soybeans are at $12.14 1/4, down 7 1/2 cents,
Nov 24 Soybeans are at $11.94 1/4, down 4 1/2 cents,
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