Soybean prices are experiencing modest declines, with the cmdtyView national average cash bean price down 4 1/4 cents to $11.06 1/2 on Wednesday. Soymeal futures have decreased by $1 to $2, and soy oil futures are down 42 to 55 points across front month contracts. Limited planting is expected in the coming week due to forecasted rainfall of 1 to 3 inches across the Central Plains to the East Coast.
The USDA will release its weekly export sales report on Thursday, with expectations for 200,000 to 600,000 metric tons (MT) of old crop beans for the week ending April 16. Brazilian exports for April are projected at 16.4 million metric tons (MMT), a decrease of 270,000 MT from the previous week.
