Soybean Futures Lower At Midday; Soybean Oil Steady
The expectations of a continued buildup of soybean stocks in 2015 are making the rounds.
The USDA releases its monthly Grain Report on Monday, January 12. Weak soymeal basis and chatter that Chinese demand is shifting to South America soon is adding to pressure.
Friday's weekly export sales report came in pretty much as expected, a bit less than 612,000 tonnes. The next report will be released Thursday, January 8, 2015.
March Soybeans are trading at 1010 1/2, down 13 cents. Chatter about flooding in Malaysia continues; some are expecting a 15 percent to 25 percent drop in palm oil production during December.
March Soybean Oil is down 0.02 at 32.11, while March Soymeal is trading at 341.5, down 6.1.
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