Soybeans Fading Lower on Wednesday
Soybeans are trading with contracts 8 to 9 cents in the red at midday. The cmdtyView national average Cash Bean price was down 8 3/4 cents at $12.38 3/4. Soymeal futures are up $8.20 to $9.20, with Soy Oil futures 200 to 219 points lower.
Weekly Export Sales data from USDA will be out on Thursday, as traders polled by Reuters are looking for a range of 0.45 to 1.2 MMT of soybean sales in the week of 10/1. Soy meal sales are seen between 150,000 and 300,000 MT, with bean oil sales expected in a range of 0 to 3,000 MT.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Brazil trade ministry data showed a total of 7.36 MMT of soybean exports in September, which was up just 0.24% from last year and 25% below last month
Nov 26 Soybeans are at $12.94 1/4, down 8 3/4 cents,
Nearby Cash is at $12.38 3/4, down 8 3/4 cents,
Jan 27 Soybeans are at $13.11, down 8 1/4 cents,
Mar 27 Soybeans are at $13.20 3/4, down 8 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.
More news from Barchart
