Soybeans are trading with contracts up 2 to 3 ¼ cents at midday. The cmdtyView national average Cash Bean price is up 3 1/2 cents at $10.71 3/4. Soymeal futures are $1.60 to $2.20 lower, with Soy Oil futures 10 to 21 points lower. NOPA stocks are an issue.
NOPA data was released this morning, with a total of 221.56 mbu of soybeans crushed in January, exceeding estimates. That was 10.57% above last year, but down 1.52% from last month. Soybean oil stocks rose 15.6% over last month and 49.07% above last year.
