Soybeans Get Strength from Bean Oil Gains

The Treasury issued guidance on the 45Z tax credit this morning, adding some premium to bean oil and lessening some uncertainty. 
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USDA’s monthly Fats & Oils report from Monday afternoon showed a total of 229.84 million bushels of soybeans crushed in December, shy of trade estimates. That was still 4.24% above November and 5.59% larger yr/yr. Marketing year crush since September has totaled 891.58 million bushels, which is up 7.43% from the same period last year.

EU soybean imports have totaled 7.29 MMT, from July 1 to February 1, which is down 1.33 MMT from the same period last year. 

Mar 26 Soybeans  closed at $10.65 3/4, up 5 1/2 cents,

Nearby Cash  was $10.00 1/2, up 4 3/4 cents,

May 26 Soybeans  closed at $10.77 1/4, up 4 3/4 cents,

Jul 26 Soybeans  closed at $10.90 1/2, up 4 3/4 cents,

On the date of publication,

Austin Schroeder

did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.

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