Soybeans are posting midday Thursday losses of 12 to 15 cents so far as futures are failing to react to export business. There is still uncertainly on potential Trump cabinet appointments including the USDA secretary and US Trade Representative. CmdtyView’s national front month Cash Bean price is down 14 cents at $9.41 ¾. Soymeal futures are down $3.30/ton so far on the day. Soy Oil futures are trading with 66 point losses at midday.Â
The USDA reported a private export sale of 176,000 MT of soybeans to unknown destinations this morning for 2024/25. Weekly Export Sales data will be released on Friday morning, as soybean sales for 2024/25 are expected to be in a range of 1 to 2.2 MMT and 2025/26 at 0-100,000 MT. Meal sales are estimated to total 175,000 to 540,000 MT.
CONAB data was released this morning, showing a slight 0.09 MMT increase to the Brazilian soybean production estimate at 166.14 MMT.
NOPA data will be released on Friday morning, with October crush among members estimated at 196.84 mbu. That would be an all-time record for crush if realized. Stocks of bean oil are estimated at 1.09 billion lbs for October 31.Â
Nov 24 Soybeans  are at $9.90 1/4, down 14 cents,
Nearby Cash  is at $9.41 3/4, down 14 cents,
Jan 25 Soybeans  are at $9.93 1/2, down 14 1/4 cents,
May 25 Soybeans  are at $10.18 3/4, down 12 3/4 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.
/Pfizer%20Inc_%20logo%20sign-by%20JHVEPhoto%20via%20iStock.jpg)
/Netflix%20on%20tv%20with%20remote%20by%20freestocks%20via%20Unsplash.jpg)
