Soybean Prices Show Gains Amid Export News

Soybean prices are up by 2 to 6 cents as midday trading unfolds on Wednesday. CmdtyView reports a national front month Cash Bean price increase of 5 3/4 cents, now valued at $9.39 3/4. Soymeal futures have gained $3.80 per ton for the day, while Soy Oil futures have seen a decline of 187 points.

In noteworthy export news, the USDA announced a private sale of 132,000 metric tons of soybeans to China for the 2024/25 season this morning.

Due to the upcoming Thanksgiving holiday, Weekly Export Sales data will be released on Friday morning. Analysts, in a Reuters survey, estimate that soybean sales for the week ending November 21 could range between 1.5 to 2.5 million metric tons for the 2024/25 season, with additional totals of 0-100,000 metric tons expected for 2025/26.

Jan 25 Soybeans are priced at $9.89 1/4, reflecting an increase of 5 3/4 cents.

Nearby Cash stands at $9.39 3/4, up 5 3/4 cents.

Mar 25 Soybeans are trading at $9.97 3/4, gaining 3 3/4 cents.

Jul 25 Soybeans are valued at $10.23 1/2, an increase of 2 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data included are for informational purposes only. For more details, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.