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FINWIRES

US Biofuels Update: Soybean Futures, Soybean Oil Futures Diverge

-- Biofuels feedstock futures closed mixed on Wednesday, as soybean futures dropped while soybean oil rose, signaling peace optimism amid the US-Iran negotiations.

The Chicago Board of Trade May soybean futures contract closed 0.28% lower at $11.63 per bushel, while the CBOT May soybean oil futures contract settled 2.56% higher at 69.33 cents per pound.

On Wednesday, the May ethanol futures contract on the Nymex ended 0.91% lower at $1.91 per gallon.

Rhett Montgomery, DTN analyst, said soybean futures have been trading in a 20-cent range over the past month as traders await further price clues.

"Soybean futures retreated on Thursday, despite a strong move higher for soybean oil, and optimism for a resumption of peace negotiations between the US and Iran," Montgomery stated in a daily note.

On Thursday, the US Department of Agriculture Weekly Export Sales Report showed that soybean export sales for the week ended Apr. 9 totaled 9.1 million bushels, a marketing-year low, as old-crop sales continue on their lower seasonal path.

Shipments, however, were seasonally strong at 30.1 mb. All totaled, commitments have reached 1.402 billion bushels for the current season and remain 18% lower than the same point in 2025.

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Intel Poised for 'Slight Beat' Amid Solid Server CPU Demand, RBC Says

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Australia

Scholastic Reports Preliminary Results of Dutch Auction Tender Offer

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Sector Update: Financial

Financial stocks were declining in Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.6%.The Philadelphia Housing Index was adding 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.8%.Bitcoin (BTC-USD) was decreasing 0.9% to $75,117, and the yield for 10-year US Treasuries was rising 5 basis points to 4.30%.In corporate news, Coinbase (COIN) and Gemini Titan have been sued by New York Attorney General Letitia James for allegedly violating the state laws against against illegal gambling with their prediction markets, Reuters reported, citing complaints filed in a state court in Manhattan. Coinbase shares fell nearly 7%.

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