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On Wednesday, soybeans experienced losses of 14 to 16 cents, with the cmdtyView national average Cash Bean price dropping to $10.64, down 15 3/4 cents. Soymeal futures fell by $5.60, while Soy Oil futures decreased by 122 points. The USDA reported an additional sale of 330,000 metric tons of soybeans to China, following Tuesday’s sale of 792,000 metric tons.
August soybean exports reached 2.273 million metric tons (83.53 million bushels), marking a 3-year high for the month and a 29.85% increase from July. Soybean meal exports totaled 1.336 million metric tons, a record for August but a 4.03% decrease from the previous month. In Brazil, ANEC estimates November soybean exports at 4.71 million metric tons, an increase from earlier estimates, while Safras & Mercado lowered their forecast for the Brazilian soybean crop to 178.76 million metric tons.
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