The soybean market is buying and selling with noon positive aspects of 1 to 2 cents up to now on Monday. CmdtyView’s nationwide entrance month Money Bean worth was up 1 1/2 cents at $9.34 1/2. Soymeal futures are up $2.80/ton on the day. Soy Oil futures are down 68 factors up to now on the day.
The following week exhibits a drier than regular climate sample for key elements of Brazil.
Soybean shipments per FGIS knowledge totaled 2.102 MMT (77.24 mbu) within the week ending on 11/21, a 7.3% drop from the week prior, however 33.5% above the identical week final 12 months. The majority was headed to China, with 1.23 MMT in shipments, as 205,727 MT was destined for Mexico. That took the advertising and marketing 12 months whole to 19.388 MMT (723.4 mbu), which is the biggest since 2020/21 and 12% above the identical level final 12 months.
CFTC’s Dedication of Merchants report indicated soybean spec merchants including again 13,165 contracts to their web quick place as of Tuesday, to 67,701 contracts. Commercials have been trimming their web quick by 13,976 contracts to 30,200 contracts as of 11/19. In soybean meal, the big spec funds have been web quick 63,700 contracts, a close to file and enhance of 36,069 contracts on the week.
Brazil’s soybean crop is now 86% planted as of Thursday in line with AgRural, in comparison with the 74% on the similar level final 12 months.
Jan 25 Soybeans are at $9.85, up 1 1/2 cents,
Close by Money is at $9.34 1/2, up 1 1/2 cents,
Mar 25 Soybeans are at $9.93 1/2, up 1 1/4 cents,
Jul 25 Soybeans are at $10.19 3/4, up 1 1/2 cents,
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