Soybeans Give Into Stress on the Shut | U.S. Finance Information
The soybean market pale off the early morning positive factors on Thursday, with contracts down 1 to 4 cents on the close. The cmdtyView national entrance month Money Bean price was down 2 1/2 cents at $9.66. Soymeal futures had been down $2.50/ton on the day, with Soy Oil futures 22 factors within the purple. President Trump plants to implement an addition 10% tariff on China beginning subsequent week.
Friday’s close in November soybean futures will set the bottom crop insurance coverage price for this yr, with the average to date this month at $10.55, a greenback under the place the entire was final yr.
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The weekly Export Gross sales report confirmed 410,878 MT in 2024/25 soybean gross sales within the week that ended on February 20. That was down 14.4% from the week prior, however nonetheless properly above the identical week final yr. China was the highest purchaser of 202,200 MT, with 172,500 MT bought to Egypt. A complete of 215,600 MT in internet reductions was reported for unknown, largely switched to a vacation spot. New crop gross sales had been tallied at 3,620 MT on the low finish of 0-50,000 MT estimates.
Soybean meal gross sales had been pegged at simply 176,472 MT, under the anticipated 200,000 to 525,000 MT vary. Bean oil bookings had been tallied at 18,363 MT, within the center of the 0-30,000 MT estimates.
The USDA Outlook Discussion board this morning confirmed the Workplace of the Chief Economist armchair estimates of 84 million soybean acres this spring. That’s down 3.1 million acres from final yr if realized. Their development adjusted yield was pegged at 52.5 bpa, with a carryout estimate at 320 mbu for 2025/26.
Argentina’s soybean crop was estimated at 24% glorious in keeping with the Buenos Aires Grain Trade, up 7% from final week. The traditional class was down 6% (all shifting to glorious), with the poor scores down 1% to 34%.
Mar 25 Soybeans closed at $10.22 3/4, down 1 3/4 cents,
Close by Money was $9.66, down 2 1/2 cents,
Could 25 Soybeans closed at $10.37 1/4, down 4 cents,
Nov 25 Soybeans closed at $10.41 3/4, down 3 3/4 cents,
New Crop Money was $9.76 1/2, down 4 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
right here.
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