Soybean futures rounded out what started as positive trade on Thursday with 8 to 11 ¾ cent losses across most contacts. CmdtyView’s national front month Cash Bean price was down 12 1/4 cents at $9.80 3/4. Soymeal futures were $1.10 to $1.90/ton lower at the close. Soy Oil futures were down 17 to 146 points on the day, led by the front months. Sharp losses in crude oil were a pressure factor.
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 closed at $10.41, down 12 1/4 cents,
Nearby Cash was $9.80 3/4, down 12 1/4 cents,
Jan 25 Soybeans closed at $10.59 1/4, down 12 1/2 cents,
May 25 Soybeans closed at $10.85 3/4, down 11 3/4 cents,
New Crop Cash was $9.80 3/4, down 12 1/4 cents,
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