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This is your Daily Soybeans Price Tracker with Vanessa Clark podcast.
Hey friends, welcome back to the Daily Soybeans Price Tracker with me, Vanessa Clark. Today were diving into the freshest soybeans news, including the latest trading prices, market moves, and what it all means for you.
First up, the numbers you have been waiting for. According to GX94 Radio, March soybeans closed at 11.34 dollars per bushel, up a full point from yesterday. Thats a solid gain after some early morning dips reported by Total Farm Marketing, where March futures traded around 11.32 dollars. Barchart noted soybeans easing back with two to four cent losses in the AM, but they bounced nicely by midday, up two to three cents thanks to stronger than expected crush data from NOPA. The Western Producer highlighted that US processors crushed a record 221 million bushels in January, up over ten percent from last year, even with weather hiccups. Cash bean prices hit about 10.71 dollars nationally per cmdtyView.
On the bigger picture, ADM Investor Services says the bean market keeps a positive technical outlook, with managed money traders snapping up nearly 95,000 contracts last week, pushing their net long position to over 123,000. Funds love the bullish signals in soybean meal too, which hit highs not seen since December. But watch Brazil, where AgRural reports harvest at just 21 percent, lagging last year, and UkrAgroConsult notes futures rose 25 cents last week amid talk of China maybe buying more US beans, though skepticism lingers with Brazils huge 180 million metric ton crop.
Heres your takeaway, pals: If youre holding old crop, consider locking in some gains on these highs, especially with Chinas Lunar New Year wrapping up soon and potential demand pickup. New crop producers, keep eyes on basis levels improving in spots like Ontario, ranging three dollars over March futures per GFO trends. Stay nimble, set those standing orders, and track export sales lagging a bit at 81 percent of USDA goals.
Thanks for tuning in, friends. Subscribe, share with your farm crew, and catch you tomorrow for more soybeans updates. Take care.
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