Front month bean futures ended the first trade session of the new month with 6 1/4 to 6 3/4 cent losses. Soybean meal futures also faded midday gains and closed down by 30 to 50 cents/ton. BO futures were the weakest of the soy complex, closing 1.1% to 1.28% lower. USDA reported October soybean crush at 196.55 mbu. That was in line with estimates and 15% above September for a record October crush. Crushers produced 4.335m tons of meal and 2.282b lbs of oil. Soy oil stocks were 1.964 billion lbs. That was above the average trade guess, but in line with the range of estimates. StoneX estimates Brazilian soybean production at 133.91 MMT, a 43k MT increase from their November estimate.
Jan 21 Soybeans closed at $11.62, down 6 1/2 cents, |
Mar 21 Soybeans closed at $11.63, down 6 1/2 cents, |
May 21 Soybeans closed at $11.61, down 6 3/4 cents, |
Jul 21 Soybeans closed at $11.58 1/2, down 6 1/4 cents, |
Jan 21 Soybean Meal closed at $390.20, down $0.30 |
Jan 21 Soybean Oil closed at $37.01, down $0.48 |
--- provided by Brugler Marketing & Management