Soybeans are heading lower at midday on Wednesday, with contracts down 10 to 18 cents. The national front month Cash Bean price from cmdtyView is down 17 1/2 cents at $9.64 1/4. Soymeal futures were down $2.40/ton, with Soy Oil futures 73 points lower on the session.Â
USDA reported a private export sale of 120,000 MT of soybeans to unknown destinations for 2024/25 this morning. Export Sales data will be released on Thursday morning, with traders looking for 300,000-800,000 MT of 2024/25 bean sales in the week of February 6, with 0-50,000 MT expected for 2025/26. Meal sales are seen at 200,000-625,000 MT, with bean oil in a range of 0-35,000 MT.Â
Brazil’s Abiove left their production estimate for the country’s bean crop at 171.7 MMT, comparted to the USDA’s 169 MMT estimate from Tuesday. CONAB data will be out later this week.
Mar 25 Soybeans  are at $10.26 1/4, down 17 1/4 cents,
Nearby Cash  is at $9.64 1/4, down 17 1/2 cents,
May 25 Soybeans  are at $10.43 3/4, down 16 1/2 cents,
Nov 25 Soybeans  are at $10.44 1/4, down 11 1/4 cents,
New Crop Cash  is at $9.81 1/2, down 10 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.
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/AI%20(artificial%20intelligence)/Data%20Center%20by%20Caureem%20via%20Shutterstock%20(2).jpg)
/Nvidia%20logo%20on%20phone%20screen%20with%20stock%20chart%20by%20xalien%20via%20Shutterstock.jpg)