Soybeans are under pressure on Wednesday, with contracts down 5 to 7 cents midday. The cmdtyView national front month Cash Bean price is down 5 1/4 cents at $9.68 1/2. Soymeal futures are down $1.80 to $2.10/ton on the day, with Soy Oil futures down 59 points on the day.
USDA’s weekly Export Sales data will be published tomorrow morning, with the trade range of estimates looking for 2024/25 sales at 200,000 to 600,000 MT in the week that ended on February 20. New crop sales are estimated to be 0-50,000 MT. Soybean meal sales are expected to be 200,000 to 525,000 MT, with bean oil bookings in a range of 0-30,000 MT.
Mar 25 Soybeans are at $10.25 3/4, down 5 1/2 cents,
Nearby Cash is at $9.68 1/2, down 5 1/4 cents,
May 25 Soybeans are at $10.42, down 6 3/4 cents,
Nov 25 Soybeans are at $10.46, down 5 cents,
New Crop Cash is at $9.81 1/2, 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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