Beans Retreating on Tuesday
Soybeans futures are trading mostly lower in the nearby contracts at midday, bobbing off overnight lows. After failing to breach the mental $12 resistance on Monday, Jan beans are down 5 ½ cents at midday. They are not getting much help from the product values as soybean meal is up just 60 cents, with bean oil down 49 points. Traders are taking some profits from the months’ long rally ahead of the holiday. Wednesday will be the last full day of trading, as the market is closed on Thursday and will close early on Friday.
| JAN 20 Soybeans are at $11.86, down 5 1/2 cents, |
| MAR 21 Soybeans are at $11.87 3/4, down 4 3/4 cents, |
| MAY 21 Soybeans are at $11.86 1/4, down 4 3/4 cents, |
| JUL 21 Soybeans are at $11.81 1/4, down 5 cents, |
| DEC 20 Soybean Meal is at $395.50, up $0.60, |
| DEC 20 Soybean Oil is at $38.06, down $0.49 |
--- provided by Brugler Marketing & Management
