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Soybean futures are 11 to 13 cents higher at midday, after trading 1 to 5 cents lower this morning. Nov16 beans hit their highest price since December 12, 2014 on Tuesday, but closed down 7 1/2 cents after recording a 37 3/4 cent range. The contract is currently up 13 1/4 cents, and has posted an 18 3/4 cent range so far today. Average Tuesday US export prices of $394/ton were $6/ton below those of Brazil, according to the IGC. Average Argentinean prices were still $8/ton below the US offers. Stats Canada will release Canadian grain stocks figures as of March 31 on Friday. A pre-report survey expects canola stocks to be 7.3 MMT, versus 8.3 MMT on March 31, 2015.
May 16 Soybeans are at $10.32 1/2, up 11 cents,
Jul 16 Soybeans are at $10.43, up 13 cents,
Aug 16 Soybeans are at $10.45 1/4, up 13 1/4 cents,
Nov 16 Soybeans are at $10.23 1/2, up 13 1/4 cents,