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Soybeans rally on record crush, S. Am crop problems

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Good morning

twig 2.2

  • Crop insurance tracker, day 1
    • Corn- 5.77
    • Beans- 13.82
    • Spring Wheat- 8.73
    • Cotton- 1.02
  • US soybean crushing hit a record high of 5.95 million short tons (198 million bushels) in December, up 3% on the year and 4% on the month, USDA data showed late Tuesday. The December soybean grinding figure landed 3% above trade estimates with the average daily crush pace at an also record of 191,732 short tons (6.39 million bushels). The report was bullish for soybeans with front-month futures jumping some 8 c/bu in the first 15 minutes of the overnight session (Agricensus).
  • Stonex Brazil reduces Brazil soybean production expectations below 127 MMT, corn to 116 MMT.

John PayneJohn Payne
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john.payne@stonex.com

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