Soybeans

Soybean futures are mostly 3 to 4 cents higher this morning. They saw gains of 9-10 1/4 cents on Tuesday amid short covering ahead of the end of the year. January soy meal was up $2.40/ton, as nearby bean oil was 46 points higher. Export inspections of US soybeans for the week that ended 12/21 totaled 1.283 MMT. That dropped 28.43% from last week and is 25.42% lower than this time last year. Chinese soybean imports totaled 8.684 MMT during November, which is 10.83% larger than November 2016. Imports from the US rose to 4.662 MMT, which still lags a year ago by 17.01%, while imports from Brazil came in at 2.76 MMT, well above last year.




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