Soybeans are showing 3 to 6 cent gains so far on Wednesday. CmdtyView’s national front month Cash Bean price is up 5 1/2 cents at $9.58 1/2. Soymeal is down 80 cents/ton on the day. Soy Oil futures are down 23points on the day.
Export sales data will be released on Thursday morning, with the trade looking for 0.8 to 1.7 MMT in soybean export sales for 24/25. For soybean meal, traders estimate 100,000 to 400,000 MT in the week of 10/3, with 0 to 20,000 MT for bean oil.
Crop Production estimates via a Bloomberg survey of analysts show soybean yield at 53.2 bpa, which would be unchanged from the September (and August) reports. Production is seen at 4.582 billion bushels.
Nov 24 Soybeans are at $10.21 1/2, up 5 1/4 cents,
Nearby Cash is at $9.58 1/2, up 5 1/2 cents,
Jan 25 Soybeans are at $10.38 1/4, up 3 3/4 cents,
May 25 Soybeans are at $10.66 1/2, up 2 3/4 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
