Soybean Near Unchanged at Midday

Group 1 - Soybean prices are showing firm action, with the national average cash bean price increasing by 0.5 cents to $10.50 1/2 [1] - Soymeal futures are steady to 50 cents higher, while Soy Oil futures are down by 35 to 42 points [1] - The International Grains Council has reduced world soybean production by 2 million metric tons (MMT), while consumption has increased by 1 MMT, leading to a decrease in ending stocks by 2 MMT to 77 MMT [1] Group 2 - The Buenos Aires Grains Exchange reports that soybean planting has progressed by 12% over the week to reach 24.6%, which is still 11% behind the same week last year [2] - Current soybean prices for January 26 are at $11.23, up 0.5 cents, while nearby cash is at $10.50 1/2, also up 0.5 cents [2] - March 26 soybeans are priced at $11.31 3/4, down 0.25 cents, and May 26 soybeans are at $11.40 1/2, down 1 cent [2]