Soybeans

Soybean futures ended the Tuesday session with gains of 5 to 7 3/4 cents most front months. Meal futures were up $5.80/ton, with nearby soy oil down 34 points. The USDA reported 1.231 MMT in soybean export inspections during the week of Jan 11. That was a 1.51% increase from the week before but still lags last year for this time by 13.46%. Full 17/18 shipments are now 14.09% (185.8 mbu) behind the same time last year. This morning’s monthly NOPA report indicated that a record amount of 166.382 mbu of soybeans was crushed by their members during December, nearly 1 mbu larger than expectations. That was a 3.87% jump over December 2016 and 1.73% larger than November. With the large production, stocks of soy oil also grew nearly 16% from November to 1.538 billion pounds.

Mar 18 Soybeans closed at $9.68, up 7 1/2 cents,

May 18 Soybeans closed at $9.79 1/2, up 7 1/2 cents,

Jul 18 Soybeans closed at $9.89, up 7 3/4 cents,

Sep 18 Soybeans closed at $9.89 1/2, up 7 cents,

Mar 18 Soybean Meal closed at $322.80, up $5.80,

Mar 18 Soybean Oil closed at $32.79, down $0.34




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