Mid-Valley Cotton Growers, Inc. -

Beans Pull Back a Dime on Tuesday

Alan Brugler - Barchart - Tue Feb 02, 10:25PM UTC

At the close on Tuesday soybean futures were 10 to 11 3/4 cents weaker. New crop beans closed down 2 1/4 to 4 1/4 cents. November contracts closed at a $2.04/bu discount to nearby, with an additional 10 1/2 cent weaker basis (cmdtyView) of 54 cents under. The new crop soy/corn ratio was 2.574. Meal futures are down $1.80 to $3.40/ton so far. Soy oil futures are down 27 to 42 points. Dalian soybeans closed the first trade day of Feb at 5,665 yuan/MT (~ $23.88/bu). New crop beans in China closed at a ~ $1.36/bu inverse to nearby. Egypt issued a 30,000 MT soybean oil tender. South Korea is tendering for 60k MT of soymeal. Brazilian soybean exports were reported at only 49,498 MT in January. That was down from 1.4 MMT LY.

Mar 21 Soybeans closed at $13.54 3/4, down 10 1/2 cents,

May 21 Soybeans closed at $13.50 3/4, down 11 3/4 cents,

Jul 21 Soybeans closed at $13.33 3/4, down 11 1/4 cents,

Aug 21 Soybeans closed at $12.90, down 10 cents,

Mar 21 Soybean Meal closed at $428.00, down $2.50

Mar 21 Soybean Oil closed at $44.32, down $0.65

--- provided by Brugler Marketing & Management

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