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Soybean prices fell on Friday, with losses ranging from 12 to 16 cents. The cmdtyView national average cash soybean price dropped by 15 3/4 cents to $10.57 1/4. In overnight trading, there were 38 deliveries for November futures, which expire today.
The USDA reported unreported large daily sales of 1.348 million metric tons (MMT), with China purchasing 332,000 MT and 616,000 MT going to unknown destinations. Current soybean yield is estimated at 53 bushels per acre, down 0.5 bushels from September, leading to a total production decrease of 48 million bushels to 4.253 billion bushels. Ending stocks for 2024/25 have decreased by 10 million bushels to 290 million bushels.
NOPA data, set to be released Monday, is expected to show an October crush of 209.52 million bushels, while soybean oil stocks are projected to increase to 1.257 billion pounds from 1.243 billion pounds at the end of September.
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