Market Analytics and Considerations
Key Notes
Pricing for the front month of soybeans are presently down heading into Thursday’s day period. The soy market on Wednesday lost up to 19 3/4 cents, sliding from 0.99percentage points to 1.36% inside the beans.
Initial open interest evidence reveals long clearance, which dropped by 3,015 contracts during the day. Futures on meals ended down $3.10 reaching $8.10. departing the with a weekly net of $1.80 net. Pricing for soybean oil increased by 16 through 28 points at the closing.
A three-year low for Dec crushing was recorded by NOPA members, with 177.5 mbu handled. The average expectation among experts was 182.9 mbu, and 174.4 mbu becoming the worst. BO holdings were measured at 1.791 billion pounds, somewhat more than the trade average prediction.
According to Brazil’s Ag Rural, the soy harvest was 0.6percentage points complete since about 1/12. That is less than the 1.2percentage – point harvest tempo from the previous season.
19 k MT of non-GMO soybeans fit for human utilization are mandated by South Korea. The Philippines are seeking to purchase 45k MT of soymeal having alternative provenance. Through a tender, Turkey ordered 24 000 MT of sunflower oil.
- Soybeans closed the week of March 23 at $15.24 1/2, off 15 1/4 cents and presently down 2 cents.
- On Wednesday, nearby cash was $14.89 3/8, down 15 7/8 cents.
- Soybeans finished at $15.21 1/2 on May 23, off 16 cents from their current market price.
- Soybeans ended at $15.15 on July 23, off 18 1/2 cents, and are down at the moment 4 1/4 cents.
