Soybeans are pushing the retreat to Friday, with contracts down 14 to 15 cents at midday. The cmdtyView national average Cash Bean price is down 19 cents at $11.09 1/4. Soymeal futures are back up 70 cents to $1.70, with Soy Oil futures falling steady at midday. There was 1 delivery issued overnight for May soybean meal with 8 for bean oil. May soybeans say 41 delivery notices on Thursday evening.
Few details announced following the meeting with President Trump and China’s President Xi left the market hanging. President Trump stated early this morning that China will be buying billions of dollars in soybeans.
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USDA reported a private export sale of 155,000 MT of soybean meal to Italy this morning.
The monthly NOPA crush report showed 211.86 million bushels of soybeans crushed during April. That was a 14.4 mbu (6.33%) drop from March but still an April record and 11.37% above last year. Daily crush was down from March’s 7.3 mbu/day to 7.06 mbu/day in April. Soybean oil stocks were down 4.5% from the end of March at 1.947 billion lbs. That was still 27.49% larger yr/yr.
Aug 26 Soybeans are at $11.74 1/4, down 15 1/2 cents,
Nearby Cash is at $11.09 1/4, down 19 cents,
Sep 26 Soybeans are at $11.61, down 14 1/4 cents,
Nov 26 Soybeans are at $11.68 1/4, down 15 1/4 cents,
New Crop Cash is at $11.08 1/2, down 14 3/4 cents,
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.
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