Soybeans are trading with firmer action on Friday, with contracts within a penny of unchanged. The cmdtyView national average Cash Bean price is up 1/2 cent at $10.50 1/2. Soymeal futures are back down steady to 50 cents higher, with Soy Oil futures 35 to 42 points lower.
World soybean production was trimmed by 2 MMT according to International Grains Council data, with consumption rising 1 MMT and ending stocks down 2 MMT to 77 MMT.
Buenos Aires Grains Exchange data showed soybean planting progressing 12% on the week to 24.6%, which is still 11% behind the same week last year.
Jan 26 Soybeans are at $11.23, up 1/2 cent,
Nearby Cash is at $10.50 1/2, up 1/2 cent,
Mar 26 Soybeans are at $11.31 3/4, down 1/4 cent,
May 26 Soybeans are at $11.40 1/2, down 1 cent,
