Soybean futures are posting midday losses of 7 to 8 cents so far as contracts are collapsing off the early session gains. CmdtyView’s national front month Cash Bean price is down 7 3/4 cents at $9.84 1/4. Soymeal futures are $1.90/ton lower. Soy Oil futures are down 90 points so far on the day.
Export Sales data showed 1.574 MMT of soybeans sold in the week that ended on September 19, a drop from the previous week. That was in the middle of the 0.9 to 2 MMT estimates and well above the same week last year. China was the lead buyer of 869,700 MT, with another 245,300 MT sold to unknown destinations.
Meal sales were net reductions of 7,944 MT for 2023/24 sales and net sales of 271,984 MT for 2024/25, coming in the middle of the 100,000 and 550,000 MT estimates for the two marketing years. Bean oil sales were 935 MT for 2023/24, with 3,489 MT in 2024/25 sales, barely in the range of 4,000 to 26,000 MT in total sale estimates.
Nov 24 Soybeans are at $10.45 1/2, down 7 3/4 cents,
Nearby Cash is at $9.84 1/4, down 7 3/4 cents,
Jan 25 Soybeans are at $10.64 1/4, down 7 1/2 cents,
May 25 Soybeans are at $10.90 1/4, down 7 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
