Soybean prices are trading 2 to 8 cents lower at midday. USDA - TopicsExpress



          

Soybean prices are trading 2 to 8 cents lower at midday. USDA weekly export sales yesterday showed net soybean export sales of 480,600 MT, with 93% of the total slated for the 2013/14 marketing year. The active soybean meal export sales program is still driving strong processor demand for cash beans. Ocean freight costs have been kept low by surplus capacity, but a second large maritime firm has now filed for bankruptcy and others are expected. Over time that will result in higher freight costs. NOPA is expected to issue a monthly crush report on Monday. A Dow survey shows traders looking for May NOPA member crush to total 117.6 million bushels, but the range of estimates is 114 to 124 million bushels so there is some uncertainty. The average trade guess for soy oil stocks is 2.522 billion pounds.
Posted on: Fri, 14 Jun 2013 17:09:38 +0000

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