Soybean oil futures closed off their highs, but were still the gainer of the complex on net 39 to 52 point gains. Beans and soymeal ended the session red, with 10 to 13 3/4 cent/bu and $0.50 to $3.40/ton losses respectively. Nov soybeans printed a 22 3/4 cent range.
US Soybean export sales from the week that ended 9/29 are expected to be confirmed between 500k MT and 1.2 MMT according to survey responses.
The monthly Census data had soybean exports of 121.9 mbu in August. That was up 43% from July and was 253% above August ’21. The 21/22 season finished with 2.162 bbu of soybean shipments – compared to 2.145 bbu forecasted and 2.266 billion last year. For soymeal, the monthly data had 828k MT shipped in August. BO shipments were 25.9k MT.
The Northeastern most province, Heilongjiang, in China reported a record soybean yield at ~66.12 bpa. The province provides about 40% of China’s domestic soybean output.
Nov 22 Soybeans closed at $13.69 3/4, down 13 3/4 cents,
Nearby Cash was $13.19 3/8, down 13 7/8 cents,
Jan 23 Soybeans closed at $13.80 1/2, down 13 cents,
Mar 23 Soybeans closed at $13.89, down 12 1/2 cents,
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