Soybean contracts closed higher on Tuesday, with the average Cash Bean price at $10.56 1/4. Soymeal futures were up $2.10 to $3.20, and Soy Oil futures rose 50 to 58 points. WASDE data showed no changes to US ending stocks at 350 mbu. Brazil’s production was raised to 180 MMT, with Argentina at 48.5 MMT. World ending stocks were increased to 125.51 MMT. ANEC reported Brazilian soybean exports at 11.71 MMT for February.

Soybean prices closed higher in March with Mar 26 at $11.22 1/2, May 26 at $11.37 1/2, and Jul 26 at $11.49 1/2. The base spring price for crop insurance was $10.91. Austin Schroeder had no positions in the mentioned securities. This information is for informational purposes only and was originally published on Barchart.com.

Read more at Yahoo Finance: Soybeans Resume Strength on Tuesday