Soybeans are showing 1 to 2 cent losses in the front months on Wednesday morning. Futures 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 on Tuesday morning, adding some premium to bean oil and lessening some uncertainty. They still need to go through a public hearing process, which is scheduled for May.
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, currently down 1 3/4 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, currently down 1 1/4 cents
Jul 26 Soybeans closed at $10.90 1/2, up 4 3/4 cents, currently down 1 1/2 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.
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