Soybeans are showing just slightly mixed trade at Monday’s midday. CmdtyView’s national front month Cash Bean price was down 3 cents at $10.01. Soymeal is up $2/ton so far on the day. Soy Oil futures are trading 80 points higher.
USDA reported a private export sale of 116,000 MT of soybeans for 2024/25 to China this morning.
The quarterly Grain Stocks report from NASS tallied September 1 soybean stocks across the US at 342 mbu. That was down 9 mbu from the Reuters survey of analysts and came in just 2 mbu above the September WASDE. It was still 78 mbu above the same period last year, which was expected.
Export Inspections data from USDA showed 675,749 MT (24.8 mbu) of US soybean shipments in the week that ended on September 26. That was down 0.3% from the same week last year and up 33.4% above the previous week. That took the accumulated shipments to 1.922 MMT (70.62 mbu), which lags last year by 3.4%.
AgRural estimates the Brazilian soybean crop at just 2% planted as of Thursday, back of the 5.2% from the same time last year. A statement released by the Chinese Ag Ministry stated they will improve the subsidy policies for processing soybeans, as well as enhance policy driven storage and market purchases.
Nov 24 Soybeans are at $10.64 3/4, down 1 cent,
Nearby Cash is at $10.01, down 3 cents,
Jan 25 Soybeans are at $10.83, unch,
May 25 Soybeans are at $11.07 3/4, up 1/2 cent,
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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