Soybeans 5 to 13 Cents Lower Alan Brugler - Barchart - Tue Feb 02, 1:23PM UTC Early Tuesday soy trading has futures 5 to 13 cents per bushel lower. Yesterday, old crop soybean futures closed 3 3/4 to 4 3/4 cents in the red, but new crop beans posted double digits to the upside. Preliminary open interest rose only 244 contracts across the bean board, with active rolling from March to May ahead of the semi-official index fund roll period starting on Friday. The new crop soy/corn ratio was at 2.577 at the close. Meal futures were down $0.50 to $1.10/ton yesterday, and BO futures gained 22 to 35 points. USDA reported 193.75 mbu of beans were processed in December. The YTD soy crush was 752.4 mbu, and needs to average 181 mbu per month to hit WASDE’s 2.2 bbu Jan forecast through the remaining 8 months. Soy oil stocks were just below the average estimate at 2.22b lbs, still up 101 million. USDA’s weekly Export Inspections report said 65.86 mbu of beans were shipped on the week ending 01/28. That was up 14.3 mbu from the same week in 19/20. Accumulated bean exports through the 28th were 1.736 billion bushels via the weekly inspections data. Census numbers are often higher. Egypt issued a 30,000 MT soybean oil tender. South Korea is tendering for 60k MT of soymeal. --- provided by Brugler Marketing & Management
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