Environmental and economic factors have continued to affect the soybean market.

May-23 soybeans fell from their peak to close the week at about $0.70 above year-ago values, and soybean oil futures continued their multi-week slide.

NOPA soybean crush was 165.4 million bushels in February, coming in below analyst expectations. Compared to last month and last year, crush was down by 7.6 percent and relatively flat, respectively. Soybean oil stocks fell 1.1 percent from the month prior, down 12.2 percent YOY.

Swine flu has reemerged in some northern portions of China, leading to concerns about soybean and soybean meal demand even if its economy recovers as projected. The Chinese hog population was cut by two-thirds during the last major outbreak in 2018.

Indonesia is planning to implement a palm oil exchange for crude palm oil exports, citing it will aid in price transparency.

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Source: 123rf.com
Posted by: Information Services
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