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Soybean futures cut their losses of earlier in the day and closed down unchanged to 2 1/2 cents lower. The 2015 crop contracts were more than 2 cents higher. There were zero delivery notices vs. March futures overnight. The oldest long is dated 10/6/14. Celeres is estimating the Brazilian crop at 91.04 MMT. Informa this morning put it at 92.5 MMT, which was down 1 MMT, but hiked its projected Argentine bean crop to 58 MMT from 57 MMT last month. Meal gave up $2.50 but oil gained 15 cents, both changes of a fraction of a percent.
Mar 15 Soybeans closed at $10.08 3/4, down 2 1/2 cents,
May 15 Soybeans closed at $10.12 1/4, down 1 1/2 cents,
Jul 15 Soybeans closed at $10.17 1/4, down 1/2 cent,
Aug 15 Soybeans closed at $10.15 1/4, unch,
Mar 15 Soybean Meal closed at $341.80, down $2.50,