Soybean prices showed midday gains of 6 to 7 cents on Wednesday, reversing overnight losses. The national front month cash bean price rose to $9.88 1/2, while soymeal futures increased by 90 cents per ton and soy oil futures climbed by 51 points.
Ahead of the Thursday Export Sales report, estimates suggest 0.9 to 2 million metric tons (MMT) of 2024/25 soybean sales for the week ending September 19, with 2025/26 sales projected at 0-50,000 MT. Soybean stocks as of September 1 are estimated to be 351 million bushels (mbu), with trade estimates ranging from 323 to 443 mbu.
Argentina’s soybean crop for 2024/25 is estimated at 52 MMT, slightly above the USDA’s 51 MMT prediction, according to the Buenos Aires Grain Exchange.
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