Soybean futures are 5 to 7 cents higher to start the Turnaround Tuesday session. They had been 10 1/2 to 21 cents lower on Monday after Brazil trimmed their biodiesel blend requirement for May and June. Soymeal prices came back from midday weakness and closed 60 to 70 cents in the black. BO futures ended the session with triple digit losses of at least 135 points nearby.
The weekly Export Inspections report showed 327,799 MT of soybeans were shipped during the week that ended 4/8. After adding 86k MT to past reports, accumulated exports sit at 54.8 MMT (~ 2.014 bbu).
May 21 Soybeans closed at $13.82, down 21 cents; now up 6 1/2
Jul 21 Soybeans closed at $13.79, down 19 1/4 cents; now up 6 cents
Nearby Cash was $13.59 1/3 yesterday, down 20 1/8 cents,
Nov 21 Soybeans closed at $12.50 1/4, down 13 cents; now up 6 1/2
New Crop Cash was $12.00 ¼ on Monday, down 12 7/8 cents,