Remsen Farmers Coop -

Soy Complex Closes Deep Red

Alan Brugler - Barchart - Thu May 13, 9:37PM UTC

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CSK24 - Soybean Crush

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Front month soybeans ended the Thursday session with losses of 35 3/4 to 58 1/2 cents. Old crop beans were weaker on the day, allowing for the inverse to tighten. The July to November soybean inverse is still $1.87/bu at the close. Meal futures ended the session $25.30 to $27/ton in the red, taking away ~65 cents of product value. BO futures ended 62 to 63 points in the red, reducing beans’ crush value by ~7 cents. The CME Synthetic Soy Crush spread was down 8 1/2 cents to 66 3/4 per bushel.

The weekly Export Sales report showed 94,341 MT of old crop bookings and 102,490 MT booked for 21/22 delivery through the week ending 5/6. The weekly report showed 285,212 MT were shipped through the week, bringing the season’s accumulated exports to 56.6 MMT (2.08 bbu) through 5/6. That is 91% of their forecasted season total. BO bookings were a relatively low 808 MT. Accumulated soy oil commitments are 669,606 MT or 64% of USDA’s updated forecast.

For soymeal, USDA reported 74,608 MT were booked during the week ending 5/6. That was down from +200k MT last week and from +100k MT sold the same week last season. Accumulated soymeal bookings are 9.7 MMT, which is 62% of USDA’s forecast.

Jul 21 Soybeans closed at $15.84, down 58 1/2 cents,

Nearby Cash was $15.91 2/3, down 59 3/4 cents,

Aug 21 Soybeans closed at $15.22 1/4, down 50 1/4 cents,

Nov 21 Soybeans closed at $13.96 1/2, down 47 1/4 cents,

New Crop Cash was $13.47 1/4, down 46 7/8 cents,

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