Soybeans are trading with Thursday losses of 4 to 5 ¼ cents at midday. The cmdtyView national average Cash Bean price is 4 1/4 cents lower at $9.83. Soymeal futures are $1 to $1.30 lower, with Soy Oil futures down 20 to 26 points.
USDA reported a private export sale of 114,000 MT of soybeans to unknown destinations this morning.
Weekly Export Sales data from this morning showed 1.106 MMT in soybean sales for the week ending on 11/27, in the middle of 0.6-2 MMT estimates. That was a drop of 52.3% from the week prior and is less than half of the same week last year.
Meal sales totaled 436,046 MT, nearing the top end of 200,000-450,000 MT estimates. Bean oil sales were tallied at 25,516 MT, exceeding the 5,000-25,000 MT in trade expectations.
Another delayed update to the backlogged CFTC reports showed managed money adding just 1,137 contracts to their net long as of the week ending on 12/2. That net long was 215,428 contracts in soybean futures and options.
Jan 26 Soybeans are at $10.54, down 4 1/4 cents,
Nearby Cash is at $9.83, down 4 1/4 cents,
Mar 26 Soybeans are at $10.63 1/2, down 5 1/4 cents,
May 26 Soybeans are at $10.74 3/4, down 5 1/4 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.
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