Soybeans Push Higher into the Wednesday Close
Soybeans closed the midweek session pushing higher into the close, as contracts were 1 ¾ to 3 ½ cents higher. The cmdtyView national average Cash Bean price was up 1 3/4 cents at $12.62 ¾. Soymeal futures were back 20 cents lower to $2.10 across the board, with Soy Oil 50 to 69 points lower.
USDA will update Export Sales data on Thursday morning, as analysts surveyed by Reuters are looking for between 0.9-2.4 MMT in 2026/27 soybean sales in the week ending last Thursday. Soybean meal bookings are seen between 150,000 and 650,000 MT in total, as bean oil is expected in a range of net cancellations of 10,000 and combined sales of 10,000 MT.
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Stats Canada data estimates the Canadian canola crop for 2026/27 at 22.05 MMT, a 0.8% drop from last year. Soybean output is seen up 7.8% to 7.456 MMT.
Nov 26 Soybeans closed at $13.20 1/2, up 1 3/4 cents,
Nearby Cash was $12.62 3/4, up 1 3/4 cents,
Jan 27 Soybeans closed at $13.37 1/4, up 2 cents,
Mar 27 Soybeans closed at $13.45 1/4, up 2 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.
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