Soybeans are sharply higher at midday, adding another 13 1/2 to 21 1/4 cents to the rally. Soymeal futures are leading the rally with 1.66% to 1.93% gains. BO futures are up 4 to 7 points so far and just along for the ride. The new crop soy/corn ratio was 2.57 at midday, compared to 2.41 from the same week last year. Jan soy to March corn ratio for old crop is 2.75, compared to 2.78 Nov/Dec when Nov beans went off the board. The market is bidding hard for soybeans! The national average cash price from cmdtyView $11.24/bu at midday.
Jan 21 Soybeans are at $11.74 3/4, up 21 1/4 cents, |
Mar 21 Soybeans are at $11.73 1/4, up 18 3/4 cents, |
May 21 Soybeans are at $11.68 1/2, up 15 1/2 cents, |
Jul 21 Soybeans are at $11.62, up 13 1/2 cents, |
Dec 20 Soybean Meal is at $397.60, up $8.30 |
Dec 20 Soybean Oil is at $37.47, up $0.04 |
--- provided by Brugler Marketing & Management