Soybeans

Soybean futures finished the day with most front months steady to 5 1/2 cents in the green. Meal futures were up $4.70/ton, with nearby soy oil 23 points higher. The CME group hiked meal margin requirements from $1000 to $1200. Analysts are expecting Thursday’s NOPA report to show 165.511 mbu of soybeans were crushed during January. Soy oil stocks at the end of January are seen at 1.603 billion pounds, which would be above December but below last January. The USDA is expected to show 450,000-750,000 MT in old crop soybean export sales in Thursday’s report, with 0-100,000 MT for new crop. There is also 150,000-450,000 MT seen for soy meal sales and 10,000-30,000 MT expected for sales of soy oil.

Mar 18 Soybeans closed at $10.17 1/4, up 5 1/2 cents,

May 18 Soybeans closed at $10.27 3/4, up 5 1/2 cents,

Jul 18 Soybeans closed at $10.37 1/2, up 5 1/2 cents,

Sep 18 Soybeans closed at $10.27 1/4, up 3 1/2 cents,

Mar 18 Soybean Meal closed at $369.90, up $4.70,

Mar 18 Soybean Oil closed at $31.80, up $0.23




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