Current soybean futures are trading 2 to 6 cents lower through Tuesday’s midday. Soymeal futures are down by $1.80 to $2.10/ton in the active months, while the in-delivery Sep contract is $7.30 weaker. Soybean Oil futures are down by 67 to 77 points at midday.
Barchart lowered their estimate for the national average soybean yield by 0.07 to 50.71.
USDA announced a private export sale for 251k MT of new crop beans to unknown destinations.
The weekly Export Inspections report had 378,595 MT of soybeans shipped for the week that ended 8/31. That finished the season with 52.25 MMT via the weekly reporting system – that is 97% of the WASDE forecast, though the monthly reports hold more data.
Sep 23 Soybeans are at $13.54 1/4, down 2 cents,
Nearby Cash is at $13.01 1/2, down 10 cents,
Nov 23 Soybeans are at $13.60, down 9 1/4 cents,
Jan 24 Soybeans are at $13.73 3/4, down 9 cents,
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. For more information please view the Barchart Disclosure Policy here.
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