Soy Futures Start Week with Gains

At the close, CBOT soy complex had recovered about half of Friday’s losses. Beans were back up by 26 1/4 to 31 3/4 cents. Soymeal futures closed off the highs but were still up by $8 to $8.50/ton. Soy oil futures also closed off the highs but held on to 65 to 67 points. The weekly Export Inspections report with data from the week ending 1/21 had.39.123 mbu of beans shipped. That was down 13% on the week, but still 86% above bean shipments from the same week last year. With 1.22 MMT (62% of the total), China was the top destination. Accumulated bean exports are at 1.66 bbu through 1/21, an all time record for the first 21 weeks and nearly all of 19/20’s full year 1.682 bbu export total.

Mar 21 Soybeans closed at $13.43 1/2, up 31 3/4 cents,
May 21 Soybeans closed at $13.42 3/4, up 31 cents,
Jul 21 Soybeans closed at $13.28 1/2, up 30 cents,
Aug 21 Soybeans closed at $12.80 1/4, up 26 1/4 cents,
Mar 21 Soybean Meal closed at $429.60, up $8.00
Mar 21 Soybean Oil closed at $42.94, up $0.67

--- provided by Brugler Marketing & Management




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