Soy Complex Mixed at Midday

Soybean closed the session in the red with 16 to 19 1/2 cent losses. Dalian soybeans closed the 19th at 5,764 yuan/MT (~ $24.25/bu) for March. May beans in China closed in the black at 5,800 yuan/MT (~ $24.40/bu). The ~15 cent carry in China compares to a 2 3/4 cent inverse domestically. The national average soybean cash price from cmdtyView was $13.24/bu. WCB and ECB cash prices were quoted at $13.09 and $13.49 respectively. Soymeal futures are down $8.10 to $8.60/ton, but BO ended the day 55 to 84 points higher. Chinese import data showed 2020 total CY bean imports were 100.33 MMT. Grain transporters in Argentina, informally united under TUDA, began blocking major highways to protest tolls, taxes and other items. This comes after strikes from dock workers, grain inspectors at export ports, and the farmers themselves over the last few months. Port operations were not immediately affected, but inbound volume to refill storage has been sharply reduced.

Mar 21 Soybeans closed at $13.69 1/2, down 16 1/4 cents,
May 21 Soybeans closed at $13.67 1/4, down 16 cents,
Jul 21 Soybeans closed at $13.51 3/4, down 17 1/2 cents,
Aug 21 Soybeans closed at $13.11 1/4, down 19 1/2 cents,
Mar 21 Soybean Meal closed at $442.40, down $8.10
Mar 21 Soybean Oil closed at $42.54, up $0.84

--- provided by Brugler Marketing & Management

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