Soybeans are showing steady trade on Tuesday, with contracts within a penny of unchanged. There were another 27 deliveries issued overnight. The cmdtyView national average Cash Bean price is down 3/4 cent at $10.9 1/2. Soymeal futures are down a dime, with Soy Oil futures 3 to 9 points lower.
The market continues to digest the unfolding Middle East situation, as China officially called for a halt to the military operations.
Monthly Fats & Oils data from Monday afternoon showed 227.8 mbu of soybeans crushed in January, exceeding estimates. That was a drop of 0.87% from December, but 87.2% above the same month last year. Soybean oil stocks rose 11.72% from the end of December to 2.43 billion lbs, which was 33.9% larger than the same period last year.
Mar 26 Soybeans closed at $11.50, unch,
Nearby Cash was $10.90 1/2, down 3/4 cent,
May 26 Soybeans closed at $11.63 3/4, down 1/4 cent,
Jul 26 Soybeans closed at $11.77 1/2, up 1/2 cent,
