Soybean futures were in a jolly mood leading into the Christmas break, with contracts 11 to 14 cents higher. The cmdtyView national average Cash Bean price was 11 3/4 cents higher at $9.92 3/4. Soymeal futures posted gains of $3 to $3.80 on Wednesday, as Soy Oil futures were up 65 to 74 points. The markets will be closed for Christmas on Thursday with a hard open at 8:30 am CST on Friday.
USDA has export sale commitments for soybeans at 25.778 MMT, which is down 33% from the same period last year as of 12/11. That it 58% of USDA’s export projection and lagging the 79% average pace.
Buenos Aires Grains Exchange data showed 75.5% of the soybean crop planted, below the average pace. Condition ratings were pegged at 67% good/excellent, which is 5 points above last year.
Jan 26 Soybeans closed at $10.63 1/4, up 11 3/4 cents,
Nearby Cash was $9.92 3/4, up 11 3/4 cents,
Mar 26 Soybeans closed at $10.76 1/2, up 12 3/4 cents,
May 26 Soybeans closed at $10.87 1/2, up 13 1/4 cents,
