date:May 02, 2013
up from the low and 8.2 off the high.
July Soybean Oil finished down 0.29 at 49.22, 0.47 off the high and 0.25 up from the low.
Interior basis levels remain extremely firm in the US despite the higher flat price levels with processors paying anywhere from 110-115 over the July contract.
The firm basis and steady crush pace continues to support old crop soybean contracts on pullbacks which occurred in today's session.
Thoughts that the next planting report will show 500,000-1 million more so