**Soybean Market Update – October 25, 2023**
On Wednesday, soybean futures reported midday losses ranging from 4 to 5 cents, with the cmdtyView national average cash bean price falling to $10.62 ½, down 4 ½ cents. Soymeal futures increased by $1 to $1.80, while soybean oil futures decreased by 30 to 64 points.
The NOAA’s 7-day Quantitative Precipitation Forecast indicates a rainfall band of 1 to 3 inches across Kansas and the southern portions of the Eastern Corn Belt, with lighter amounts of less than ½ inch expected in northern Illinois, most of Iowa, Nebraska, and South Dakota.
Export sales data, anticipated for release on Thursday, is projected to show 2025/26 soybean sales between 100,000 to 300,000 metric tons, while the new crop marketing year sales for the week ending June 18 are expected to fall between 500,000 to 700,000 metric tons.
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