The soybean market is trading with contracts up 12 to 14 1/2 cents so far on Wednesday’s session. CmdtyView’s national front month Cash Bean price is up 12 1/4 cents at $9.95 1/4. Soymeal futures was up $7.90/ton, with Soy Oil futures down 9 points in the front month so far on the session.
The market is so far not convinced of the February 1 tariff date for 10% of Chinese imports, or at least any retaliatory action on US beans.
Export Sales data will be released on Thursday morning, with 2024/25 bookings estimated at 0.45 to 1.7 MMT in the week ending on January 23. Meal sales are seen in a range of 100,000 to 450,000 MT, with 4,000 to 20,000 MT in soybean oil sales estimated.
Mar 25 Soybeans are at $10.57 1/2, up 12 1/2 cents,
Nearby Cash is at $9.95 1/4, up 12 1/4 cents,
May 25 Soybeans are at $10.72, up 12 1/2 cents,
Nov 25 Soybeans are at $10.62, up 14 1/2 cents,
New Crop Cash is at $9.97 3/4, up 14 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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