Soybean futures are currently penny lower to a penny higher after - TopicsExpress



          

Soybean futures are currently penny lower to a penny higher after a higher close on Tuesday. Preliminary OI was down 4,209 contracts. There were 12 deliveries put out overnight in the Mar 14 contract, bringing the MTD total to 140 contracts. Private analyst Informa has reduced projected Brazilian production to 88.8 MMT, with Argentina at 54 MMT. A Bloomberg survey put trade estimates for the Monday USDA report at 88.09 MMT for Brazil and 53.6 MMT. The average US ending stocks number is 144 million bushels. Bean oil was sharply higher, with the May 14 contract closing up 133 points at 43.71 (highest closing price since mid September, 2013).
Posted on: Wed, 05 Mar 2014 13:39:30 +0000

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