Soybeans are trading with 2 to 3 cent losses so far on Thursday morning. Beans settled Wednesday with contracts up anywhere from 1 ¼ to 4 cents. CmdtyView’s national front month Cash Bean price was up 4 1/4 cents at $9.57 1/4. Soymeal was down a dime to $1.80/ton on the day. Soy Oil futures were steady to down 11 points on the day.
Export sales data will be released on this morning, with the trade looking for 0.8 to 1.7 MMT in soybean export sales for 24/25. For soybean meal, traders estimate 100,000 to 400,000 MT in the week of 10/3, with 0 to 20,000 MT for bean oil.
Crop Production estimates via a Bloomberg survey of analysts show soybean yield at 53.2 bpa, which would be unchanged from the September (and August) reports. Production is seen at 4.582 billion bushels.
Nov 24 Soybeans closed at $10.20 1/4, up 4 cents, currently down 2 3/4 cents
Nearby Cash was $9.57 1/4, up 4 1/4 cents,
Jan 25 Soybeans closed at $10.37, up 2 1/2 cents, currently down 2 1/2 cents
May 25 Soybeans closed at $10.65 1/2, up 1 3/4 cents, currently down 2 cents
On the date of publication, Austin Schroeder 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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