Soybeans are showing 1 to 4 cent losses across most contracts on Wednesday. The cmdtyView national average Cash Bean price is up 1 ¼ cents at $10.97 3/4. Soymeal futures are up $1.50 to $2.00, with Soy Oil futures 150 to 165 points lower. Crude Oil is weaker, down $1.56 as the Middle East situation has cooled off after a post from President Trump suggested Iran is looking for a ceasefire.

USDA Export Sales data is estimated to show between 300,000-700,000 MT in Thursday’s Export Sales update for old crop. New crop business is seen at 0-50,000 MT.  Soybean meal sales are seen in a range of 200-500,000 MT, with bean oil at 0-12,000 MT. 

NASS data via the annual Prospective Plantings report showed a total of 84.7 million acres of soybean intended for this spring. That was a 3.485 million acre swing higher from a year ago, but 787,000 acres below the average trade guess.  

March 1 soybean stocks came in at 2.105 billion bushels in the quarterly Grain Stocks report, which is up 194 mbu from a year ago. That was also 19 mbu above the Bloomberg trade estimate and 38 above the Reuters survey.

May 26 Soybeans  are at $11.66 1/2, down 4 1/2 cents,

Nearby Cash  is at $10.97 3/4, up 1 3/4 cents,

Jul 26 Soybeans  are at $11.82, down 4 cents,

Nov 26 Soybeans  are at $11.54, down 3 1/2 cents,

New Crop Cash  is at $10.92, down 1 1/4 cents,