Soybeans closed Tuesday with contracts down 1 to 3 cents. CBoT reported another 125 deliveries overnight, taking the total to 1,707 for the month. The cmdtyView national average Cash Bean price was 2 1/2 cents lower at $10.53 1/4. Soymeal futures were down $2.00 to $3.10 on the day, with Soy Oil futures 41 to 54 points higher.
Crop Production data is expected to be released on Friday, as a Reuters survey of traders shows soybean yield expected to drop 0.4 bpa to 53.1 bpa, with output dropping 35 mbu to 4.266 bbu.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Brazil’s November soybean export total is estimated at 4.26 MMT, according to ANEC, a 0.49 MMT hike from the previous number.
Nov 25 Soybeans closed at $11.13 1/4, down 2 3/4 cents,
Nearby Cash was $10.53 1/4, down 2 1/2 cents,
Jan 26 Soybeans closed at $11.27 1/4, down 2 3/4 cents,
Mar 26 Soybeans closed at $11.38, down 1 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
- Grain Bulls Are Back in Business as China Resumes Soybean, Wheat Purchases. What Comes Next?
- Upcoming U.S.-China Talks Create 1 Bullish Soybean Trade Here
- China May Not Be Buying U.S. Soybeans, But Soybean Meal Is a Value Buy for Traders Here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
