Soybeans are trading with just fractional losses on Thursday’s midday, after double digit losses earlier in the morning. CmdtyView’s national front month Cash Bean price is down 1/2 cent at $9.93 1/2. Soymeal is down $3.80-$4.10/ton across the front months but off the lows. Soy Oil futures are up 108 points in the December contract.
This morning’s Export Sales report tallied a total of 1.44 MMT of soybeans sold in the week of 9/26, which was a 3-week low, but still 78.5% larger than the same week last year. That was on the higher end of the trade’s estimates of 1-1.6 MMT in bookings for 2024/25. China was the lead buyer of 725,700 MT, with Bangladesh next in line at 166,000 MT.
Soybean meal sales were tallied at net reductions of 40,720 MT for the 2023/24 sales, with 228,563 MT sold for 2024/25. Bean oil sales were pegged at 477 MT for 23/24, with 24/25 sales at 30,838 MT.
Nov 24 Soybeans are at $10.55 1/2, down 1/2 cent,
Nearby Cash is at $9.93 1/2, down 1/2 cent,
Jan 25 Soybeans are at $10.73 3/4, down 1/2 cent,
May 25 Soybeans are at $11.02, down 1/4 cent,
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