The soybean market fell into the close on Wednesday, as contracts were down 1 to 6 ½ cents at the final bell. CmdtyView’s national front month Cash Bean price was down 2 1/2 at $9.39. Soymeal futures were back down $2.20 to $3.20/ton on the day, with Soy Oil futures 24 to 39 points higher on the session.
USDA reported a private export sale of 120,000 MT of soybeans to unknown destinations this morning for 2024/25 shipment.
USDA will release a slew of reports on Friday, with the trade looking for us bean yield to be down 0.1 bpa to 51.6 bpa. Production is seen down 8 mbu to 4.453 bbu, as harvested acres are estimated to be slightly higher from the November report.
The weekly Export Sales report is delayed until Friday as the government offices will be closed Thursday for a National Day of Mourning for former President Carter’s funeral. The markets will be closing at 12:15 pm CST on Thursday.
Jan 25 Soybeans closed at $9.85 3/4, down 6 1/2 cents,
Nearby Cash was $9.39, down 2 1/2 cents,
Mar 25 Soybeans closed at $9.94, down 3 1/4 cents,
Jul 25 Soybeans closed at $10.17 3/4, down 1 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. More news from Barchart- Grains and Oilseeds in Q4 and 2024- Where are they Heading in 2025?
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