Soybeans are trading with Monday AM losses of 3 to 6 cents. Futures posted gains of 4 to 6 ¼ cents across the nearby contracts on Friday, with January up 12 ¾ cents on the short week. The cmdtyView national average Cash Bean price was 6 1/2 cents higher at $10.65 ½. Soymeal futures were down $1.70 to $3.60, with December down 70 cents on the day. Soy Oil futures were 87 to 10 points higher, with December rallying 150 points on the short week. There were 147 deliveries issued against December soybean meal on Friday night, with 122 for bean oil.
USDA’s Export Sales data for the week ending on October 16 was released on Friday, with 1.1 MMT of soybean sales in that week. That was the first week to breach 1 MMT this marketing year, at 41.2% above the previous week, yet was still 56.9% below last year. China to that point had yet to make a purchase.
The report for the week ending on October 23 will be released this morning, with analysts looking for 0.6 to 1.6 MMT of beans sold, with bean meal at 50,000-500,000 MT and bean oil at 5,000 to 25,000 MT.
AgRural estimates the Brazilian soybean crop now at 89% planted as of Thursday, with the same period last year at 91%.
Jan 26 Soybeans closed at $11.37 3/4, up 6 1/4 cents, currently down 3 3/4 cents
Nearby Cash was $10.65 1/2, up 6 1/2 cents,
Mar 26 Soybeans closed at $11.46, up 5 1/4 cents, currently down 4 cents
May 26 Soybeans closed at $11.55 1/4, up 4 3/4 cents, currently down 4 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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