Soybeans futures are 1 to 2 cents higher so far at midday. The cmdtyView national average Cash Bean price is 1 ½ cents higher to $10.52 3/4. Soymeal futures are up $2.80 to $3, with Soy Oil futures are 8 to 9 points lower.
USDA’s daily flash sale system was quiet this morning after nearly 1.9 MMT in sales to China over the last couple weeks.
USDA released delayed Export Sales data on Tuesday morning, with beans coming in at 785,003 MT on the lower half of the 0.5-1.4 MMT trade estimates in the week of 10/9. That was a 3-week low and 53.9% below the same week last year. To that point, China had yet to make any purchases.
Meal sales were tallied at 358,406 MT, which was on the high side of the 150,000-400,000 MT estimates. Bean oil sales were below estimates of 5,000-30,000 MT at 1,924 MT.
Jan 26 Soybeans are at $11.24 3/4, up 1 1/2 cents,
Nearby Cash is at $10.52 3/4, up 1 1/2 cents,
Mar 26 Soybeans are at $11.34 1/4, up 2 1/4 cents,
May 26 Soybeans are at $11.44, up 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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