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Soybean prices rose by 3 to 4 cents on Wednesday morning, following a decline of 1 to 2 cents at Tuesday’s close. The latest average cash bean price remained steady at $9.58 1/4. Open interest dropped by 17,022 contracts on Tuesday, largely due to the November contracts ahead of options expiration on Friday.
Brazilian soybean exports are projected at 7.34 million metric tons for October, according to ANEC, an increase from previous estimates. The EU has imported 3.51 million metric tons of soybeans since July 1, which is 0.35 million metric tons lower than last year.
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