Futures were volatile last week. Jul-23 soybeans closed Friday, May 5, up 9 cents from Monday, May 1, and 26 cents from the week’s lowest close. Nov-23 soybeans closed, up 5 cents from last Monday.

Jul-23 soybean oil futures rallied by nearly 2 cents per pound Friday and gained 2.5 cents last week. Oct-23 futures gained more than a penny and a half Friday.

U.S. soybean plantings were 19 percent completed as of the end of April, compared to 7 percent last year and 11 percent for the five-year average.

U.S. soybean crush was 197.97 million bushels in March, a record high for the month, and effectively amounted to 6.39 million per month. Cumulatively, crush is at about 59 percent of USDA’s current projection. Oil stocks were 2.388 billion pounds, about average for this time of year.

Brazilian soybean exports for April were up 25 percent YOY.

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Source: 123rf.com
Posted by: Information Services
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