Soybean futures remain steady on Tuesday, with contracts fluctuating close to unchanged. The cmdtyView national average cash bean price is reported at $10.90 1/2, down 3/4 cent. Meanwhile, March soybeans closed at $11.50, with May soybeans at $11.63 3/4, reflecting a decline of 1/4 cent, and July soybeans finished slightly up at $11.77 1/2.
Additionally, the latest Monthly Fats & Oils data released on Monday indicated that 227.8 million bushels of soybeans were crushed in January, surpassing estimates. This figure represents a 0.87% decrease from December but is 87.2% higher compared to January last year. Soybean oil stocks increased to 2.43 billion pounds, an 11.72% rise from the end of December and 33.9% higher than the same period last year.
