Soybeans are down by double digits through the Friday session so far. The Nov contract is at a 5 ¾ cent loss for the week’s move. Soymeal is back down by $4 to $4.50 at midday. Current Soybean Oil futures are 20 to 34 points in the black, save for an 18 point loss in the October contract.
NOAA’s updated 7-day QPF shows harvest stalling rainfall for N. MO of as much as 4”. The rainfall covers NE through OH, with IL and N. IN expected to get 2”.
USDA’s weekly Export Sales data had 808.5k MT of soybean bookings for the week that ended 9/28. That was up 20% for the week, and was 80% above sales from the same week last year. Estimates topped out at 900k MT going into the report. The weekly series marked the season commitments at 18.56 MMT (681.95 mbu), which is 28% behind last year’s pace.
Nov 23 Soybeans are at $12.69, down 11 3/4 cents,
Nearby Cash is at $12.06 3/4, down 11 1/8 cents,
Jan 24 Soybeans are at $12.87, down 11 1/2 cents,
Mar 24 Soybeans are at $13.01 1/2, down 11 1/4 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.
