The soybean market was falling on Wednesday, with losses of 6 to 8 cents on the session. The cmdtyView national front month Cash Bean price was down 6 1/4 cents at $9.71 3/4. Soymeal futures were up 40 cents to $1/ton on the day. Soy Oil futures were back down 70 to 100 points on the session.
The average November soybean futures close so far this month has been $10.57. The average close during the month of February is used to determine the base crop insurance price. Last year was $11.55.
Export Sales data will be pushed back to a Friday morning release.
Brazil’s AgroConsult trimmed back their estimate for the country’s soybean crop by 1.1 MMT to 172.4 MMT.
Mar 25 Soybeans closed at $10.31 3/4, down 6 3/4 cents,
Nearby Cash was $9.71 3/4, down 6 1/4 cents,
May 25 Soybeans closed at $10.48 1/4, down 7 1/4 cents,
Nov 25 Soybeans closed at $10.51 1/4, down 6 3/4 cents,
New Crop Cash was $9.87 1/4, down 6 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.More news from Barchart
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