Soybeans posted 4 to 5 ½ cent gains on Tuesday. The cmdtyView national average Cash Bean price was 4 3/4 cents higher at $10.00 1/2. Soymeal futures were $1.40 to $2.60 lower, with Soy Oil futures up 102 to 129 points.
The Treasury issued guidance on the 45Z tax credit this morning, adding some premium to bean oil and lessening some uncertainty.
USDA’s monthly Fats & Oils report from Monday afternoon showed a total of 229.84 million bushels of soybeans crushed in December, shy of trade estimates. That was still 4.24% above November and 5.59% larger yr/yr. Marketing year crush since September has totaled 891.58 million bushels, which is up 7.43% from the same period last year.
EU soybean imports have totaled 7.29 MMT, from July 1 to February 1, which is down 1.33 MMT from the same period last year.
Mar 26 Soybeans closed at $10.65 3/4, up 5 1/2 cents,
Nearby Cash was $10.00 1/2, up 4 3/4 cents,
May 26 Soybeans closed at $10.77 1/4, up 4 3/4 cents,
Jul 26 Soybeans closed at $10.90 1/2, up 4 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. For more information please view the Barchart Disclosure Policy here.
