Soybeans are posting 14 to 16 cent losses across the front months on Wednesday’s midday. The cmdtyView national average Cash Bean price was is 15 3/4 cents lower at $10.64. Soymeal futures are back down $5.60, with Soy Oil futures 122 points lower.
USDA reported another 330,000 MT of soybeans sold to China via their daily announcement system this morning. That followed the 792,000 MT from Tuesday.
Delayed Census data was reported this morning, with August exports at 2.273 MMT (83.53 mbu). That was a 3-year high for the month, and 29.85% above July. Soybean meal exports were tallied at 1.336 MMT, a record for August but a slight 4.03% drop from July.
ANEC estimates the Brazilian soybean exports at 4.71 MMT in November, a 0.45 MMT increase from the previous estimate last week. Safras & Mercado estimates the Brazilian soybean crop at 178.76 MMT, down 2.16 MMT from their previous estimates.
Jan 26 Soybeans are at $11.37 1/2, down 16 cents,
Nearby Cash is at $10.64 1/1, down 15 3/4 cents,
Mar 26 Soybeans are at $11.45 1/2, down 14 3/4 cents,
May 26 Soybeans are at $11.52 3/4, down 14 1/2 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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