Soybeans are starting off Friday with 5 to 7 cent losses from the overnight trade, as November sits at the overnight low. The Soybean Oil futures ended Thursday mixed and within 10 points of UNCH while the beans and meal closed in the black. Soybean futures were 4c off their session highs at the close for 7 ¾ to 10 cent gains. September beans went off the board at $13.43 ¾ - a 16 ¾ cent discount to the Nov. Soymeal futures settled up by $4.50/ton. Â
USDA’s weekly Transport data showed spot delivery for NOLA soybeans were being bid at $14.67/bu. Barchart has Port Santos Soybean FOB ~$14.87/bu, or ~20c higher.Â
StatsCan forecasts 2023 canola production at 17.368 MMT, compared to 18.695 MMT last year. Canadian soybean production was marked at 6.722 MMT, up 2.7% yr/yr.Â
USDA’s weekly Export Sales report showed 703k MT of soybeans were booked during the week that ended 9/7. That included 372k MT of previously announced sales. Total commitments were at 16.6 MMT (611.6 mbu) compared to 24.4 MMT (898 mbu) at the start of last season.Â
Analysts estimate NOPA August soy crush will be reported at 167.8 mbu. The full range of estimates ahead of today’s release runs 161.3 to 171 mbu – compared to 173.3 mbu in July and 168.1 mbu LY.Â
Nov 23 Soybeans  closed at $13.60 1/2, up 10 3/4 cents, currently down 7 1/2 cents
Nearby Cash  was $12.96 1/2, up 10 1/8 cents,
Jan 24 Soybeans  closed at $13.75 3/4, up 9 1/2 cents, currently down 7 1/4 cents
Mar 24 Soybeans  closed at $13.85, up 9 1/4 cents, currently down 6 3/4 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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