Front month soybeans are down by as much as 3 cents for midday. The new crop contracts are fractionally higher to 1 1/2 cents in the black, eating into the inverse. Meal prices continue to back off, with midday losses of $1.10 to $2/ton. BO continues the rally with another triple digit gain in the December contract.Â
Analysts surveyed expect between 1.7 MMT and 2.5 MMT of soybeans were sold for export during the week that ended 10/13.Â
USDA’s Ag Attache expects the 22/23 soybean crop in Brazil would reach 148.5 MMT. That comes on 42.8m HA – a 300k HA increase yr/yr. Exports were forecasted at 95.7 MMT, an increase from 21/22’s 92 MMT.Â
Nov 22 Soybeans  are at $13.70, down 2 cents,
Nearby Cash  is at $13.23 1/4, down 2 3/8 cents,
Jan 23 Soybeans  are at $13.80 1/4, down 1 3/4 cents,
Mar 23 Soybeans  are at $13.89, down 1 cent,
On the date of publication, Alan Brugler 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.
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