Soybeans Bouncing Off Midweek Lows
Soybeans are trading with contracts down 1 to 2 1/2 cents on Wednesday, with futures bouncing off the early session lows. The cmdtyView national average Cash Bean price is 2 ¾ cents lower at $9.89 1/4. Soymeal futures are $3.30 lower, with Soy Oil futures steady at midday.
USDA reported a couple private export sales of 198,000 MT of soybean to China and 125,000 MT to unknown destinations this morning.
ANEC estimates the Brazilian soybean exports for December at 3.57 MMT, a 0.24 MMT increase from last week’s estimate.
Jan 26 Soybeans are at $10.60 1/4, down 2 1/2 cents,
Nearby Cash is at $9.89 1/4, down 2 3/4 cents,
Mar 26 Soybeans are at $10.70 1/2, down 1 1/4 cents,
May 26 Soybeans are at $10.81 3/4, down 1 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 Barchart Disclosure Policy here.
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