Soybeans are trading with 15 to 17 cent gains so far on Thursday. Futures saw gains of 12 to 14 cents in the front months on Wednesday. Open interest showed net new buying, up 15,897 contracts. There were 23 deliveries notices against March futures overnight. The cmdtyView national average Cash Bean price was up 12 cents at $11.39 1/4. Soymeal futures were up 10 to 90 cents, with Soy Oil futures 122 to 175 points higher. There were 10 deliveries issued overnight against March meal, with 173 for soybean oil. Crude oil is up another $6.06 this morning.
Bean oil gained some strength as EPA’s RVO figure for this year was reportedly leaked near the 5.4 billion gallon level. The figure should be officially announced later this month.
