Soybeans

Soybean futures are giving back Wednesday’s gains, with most contracts 11-12 cents in the red. January soy meal is down $2/ton, as nearby bean oil is 52 points lower. A Reuters report shows that roughly half of the US shipments to China in 2017 consisted of more than 1% FM. This would increase costs to US exporters. Soybean old crop export sales are expected to be in the range of 0.8-1.5 MMT in Friday’s USDA report. Following Wednesday’s report of an explosion at a Rosario port that left one dead, workers started a 48 hour strike with the reason being safety concerns. The market is showing little reaction, as exports there are typically slower around this time.

Jan 18 Soybeans are at $9.44 1/2, down 11 cents,

Mar 18 Soybeans are at $9.56, down 11 1/2 cents,

May 18 Soybeans are at $9.67 1/4, down 11 1/4 cents,

Jul 18 Soybeans are at $9.77 3/4, down 11 1/4 cents,

Jan 18 Soybean Meal is at $312.20, down $2.00

Jan 18 Soybean Oil is at $32.55, down $0.52




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