The soybean complex is back to weaker trade on Wednesday’s midday, with contracts down 4 to 5 cents. The cmdtyView national front month Cash Bean price is 4 1/4 cents lower at $9.73. Soymeal futures are up 80 cents/ton on the day, with Soy Oil futures back down 106 points on the session.
The average close for November soybean futures has been $10.57 so far this month. The average close during the month of February is used to determine the base crop insurance price. Last year was $11.55.
Brazil’s AgroConsult trimmed back their estimate for the country’s soybean crop by 1.1 MMT to 172.4 MMT.
Mar 25 Soybeans are at $10.34, down 4 1/2 cents,
Nearby Cash is at $9.73, down 4 1/4 cents,
May 25 Soybeans are at $10.50 1/2, down 5 cents,
Nov 25 Soybeans are at $10.53, down 5 cents,
New Crop Cash is at $9.89 1/1, down 5 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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