Soybean futures are trading 4 to 8 ½ cents higher so far through the Monday session. Midday Soymeal futures are down by $1.10 to $1.40 across the front month contracts. Soy oil futures are currently 102 to 112 points in the black.
Weekly Inspections data from USDA’s FGIS had 1.16 MMT (42.7 mbu) of soybean exports during the week that ended 1/18. That was a 117k MT drop from last week’s volume and was 37% below the same week last year. Accumulated bean shipments were totaled at 26.751 MMT (982.9 mbu), compared to 34.3 MMT (1.26 bbu) last year. Friday’s FAS data had 12.16 MMT (447 mbu) of unshipped bean sales on the books as of 1/11.
Safras and Mercado updated Brazil’s soybean harvest to 5.1% complete as of 1/19. That compares to 1.7% at the same time last year.
Mar 24 Soybeans are at $12.21 1/4, up 8 cents,
Nearby Cash is at $11.65 1/1, up 8 cents,
May 24 Soybeans are at $12.30, up 7 cents,
Jul 24 Soybeans are at $12.38 3/4, up 6 3/4 cents,
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