Soybeans Slipping Lower After Early Back and Forth Trade
Soybeans are posting 2 to 3 cent losses across most contracts on Wednesday. The cmdtyView national average Cash Bean price is 2 ½ cents higher at $9.33 1/4. Soymeal futures are down 80 cents to $2.70, with Soy Oil futures 2 to 4 points higher.
A private export sale of 101,400 MT of soybean meal was reported to Guatemala for 2025/26 by the USDA this morning.
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Export Sales data will be released on Thursday morning, as traders are looking for between 0.6 and 1.6 MMT in soybean sales in the week of 9/18. Meal sales are seen at 150,000 to 450,000 MT in total, with bean oil between net reductions of 10,000 and sales of 30,000 MT.
Earlier this morning Secretary Bessent tweeted that the US “stands ready to purchase secondary or primary government debt and we are working with the Argentine government to end the tax holiday for commodity producers converting foreign exchange.” Brazilian soybean exports for September are expected to total 7.15 MMT according to ANEC, which is a 0.38 MMT drop from the estimate last week.
Nov 25 Soybeans are at $10.09 1/2, down 2 1/2 cents,
Nearby Cash is at $9.33 1/4, down 2 1/2 cents,
Jan 26 Soybeans are at $10.29 1/4, down 2 1/2 cents,
Mar 26 Soybeans are at $10.45, down 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.
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