Soybeans are trading with 4 to 5 ½ cent losses at midday. The cmdtyView national average Cash Bean price is down 5 1/4 cents at $10.66 1/4. Soymeal futures are 10 to 60 cents higher on the day, with Soy Oil futures 40 to 47 points lower. The markets will be closed on Monday for President’s Day.
USDA Export Sales data has soybean commitments at 34.572 MMT, which was down 20% from a year ago. That is also 81% of USDA’s export projection and lags the 89% pace via the 5-year average.
The Buenos Aires Grains Exchange estimates the Argentina soybean crop at 48.5 MMT, unchanged from their previous forecast. They estimate the soybean crop ratings at 32% good/excellent, down 8% from the week prior.
Mar 26 Soybeans are at $11.32, down 5 1/4 cents,
Nearby Cash is at $10.66 1/4, down 5 1/4 cents,
May 26 Soybeans are at $11.47 3/4, down 4 1/2 cents,
Jul 26 Soybeans are at $11.59 1/2, down 4 1/4 cents,
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