Beans look to start Thursday with another red candle, the 4th consecutive for Nov futures. Soybean prices leaked another 7 3/4 to 10 cents lower on Wednesday. Soymeal closed with $9.10 to $9.40 losses past the Sep contract. Soy oil, however, rallied triple digits on the day, closing with Sep at the highest mark since mid-June. October BO was still a 3.84 c/lb discount at the close. Cash price data tracked by Barchart shows the USDA average cash soy oil price was 74.57 cents per pound.
USDA announced the regular weekly Export Sales data will be unavailable until Sep 15th, and will revert back to the legacy reporting system until the new system is sufficient.
Trader estimates going into today’s monthly USDA Fats and Oils report expect 180.5 mbu of beans were crushed in July on average. June’s soy crush was 174.1 and July ’21 was 166.3 mbu. Soy oil stocks are expected to be 2.221b lbs in the report.
Sep 22 Soybeans closed at $15.07 1/2, down 5 1/2 cents, currently down 21 1/2 cents
Nearby Cash was $14.54 5/8 on Wednesday, down 9 cents,
Nov 22 Soybeans closed at $14.22 1/2, down 10 cents, currently down 16 1/2 cents
Jan 23 Soybeans closed at $14.27 3/4, down 9 3/4 cents, currently down 16 1/2 cents
New Crop Cash was $13.72 ¾ on Wednesday, down 10 1/4 cents,
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