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Barchart
Barchart
Austin Schroeder

Soybeans Trading with Friday Gains

Oil CmdtyView may USDA

Soybeans futures are trading with contracts 3 to 8 cents higher as nearby May is down 1 ½ cents.  The cmdtyView national average Cash Bean price is up 9 cents at $11.32 1/4. Soymeal futures are steady to $1.70 lower, with Soy Oil futures up 22 to 42 points. There were 367 soybean delivery notices overnight, with another 712 issued against May soybean oil and still no for bean meal.

EIA data showed soybean oil used for biodiesel at 1.058 million lbs in February. That was a 7 month high for bean oil use and 44.34% of the overall feedstock in biodiesel/renewable biodiesel. 

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