Soybeans are trading with firmer action on Friday, with contracts within a penny of unchanged. The cmdtyView national average Cash Bean price is up 1/2 cent at $10.50 1/2. Soymeal futures are back down steady to 50 cents higher, with Soy Oil futures 35 to 42 points lower.
World soybean production was trimmed by 2 MMT according to International Grains Council data, with consumption rising 1 MMT and ending stocks down 2 MMT to 77 MMT.
Buenos Aires Grains Exchange data showed soybean planting progressing 12% on the week to 24.6%, which is still 11% behind the same week last year.
Jan 26 Soybeans are at $11.23, up 1/2 cent,
Nearby Cash is at $10.50 1/2, up 1/2 cent,
Mar 26 Soybeans are at $11.31 3/4, down 1/4 cent,
May 26 Soybeans are at $11.40 1/2, down 1 cent,
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. For more information please view the Barchart Disclosure Policy here.
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