Soybeans settled the Wednesday session with contracts ¾ to 5 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 1/2 cent at $9.46 1/2. Soymeal futures were down 90 cents to 40 cents/ton higher on the day. Soy Oil futures ended down 21 to 30 points on the session.
Export Sales data is expected to show between 1.5 and 2.2 MMT in soybean sales for 2024/25 in the week of 12/5, with 0-50,000 MT of 2025/26 soybean sales. Meal bookings are seen at 175,000 to 450,000 MT in that week, as bean oil sales are estimated at 5,000 to 100,000 MT.
On Tuesday, USDA left US soybean stocks alone at 470 mbu. For the world numbers, carryout was up 0.13 MMT at 131.87 MMT. After USDA left the Brazilian number at 169 MMT on Tuesday, CONAB will release their monthly update on Thursday.
Jan 25 Soybeans closed at $9.95 1/2, up 3/4 cent,
Nearby Cash was $9.46 1/2, up 1/2 cent,
Mar 25 Soybeans closed at $10.02 3/4, up 2 1/2 cents,
Jul 25 Soybeans closed at $10.23 1/2, up 3 cents,
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy
here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
