The CBOT will reopen Monday evening instead of Sunday evening in observance of Presidents’ Day.
Tidbits
NOPA soybean crush in January 2024 was 185.78 mil bu of soybeans, a record large crush for any January and 3.8% more than a year ago. The market expected 189.928 mil bu.
Soy oil stocks at the end of January were 1.507 bil lbs, the largest end-month supply in six months and above market expectations of 1.409 bil lbs. However, and more importantly, the bean oil inventory was 17.6% below a year ago.
The U.S. Environmental Protection Agency said on Wednesday that farmers can use some existing supplies of weedkillers based on the chemical dicamba, despite a federal court ruling last week that halted sprayings. The decision is a win for farmers who planned to use dicamba products sold by Bayer, BASF and Syngenta on genetically modified soybeans and cotton, and for the agrochemical companies.