CONWAY, Ark.-(Commercial Grain Inc.)--Informa’s U.S. soybean balance sheet is unchanged from last week with only minor changes made for soybean meal.
Soybean oil domestic usage for 2008/09 has been increased by 100 million pounds after National Oilseed Processors Association (NOPA) reported a larger-than-expected crush with soybean oil stocks somewhat less than anticipated.
Informa sees USDA estimating March 1 soybean stocks at 1,315 million bushels on March 31. Soybean futures rallied 75 cents in the May contract and 69 cents in the November contract this past week as speculative buying was spurred by a
rebound in the outside equity and energy markets, the Fed’s plan to buy bonds and mortgage-backed securities.
Jim Daven
Monday, March 23, 2009
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