Soybeans have seen a back and forth trade over the last week seeing some consolidation, with Tuesday trade showing fractionally to 2 cent lower tradr so far on Tuesday. CBoT reported another 125 deliveries overnight, taking the total to 1,707 for the month. The cmdtyView national average Cash Bean price is 1 3/4 cents lower at $10.55. Soymeal futures are down $2.80 at midday, with Soy Oil futures 59 points higher.
Crop Production data is expected to be released on Friday, as a Reuters survey of traders shows soybean yield expected to drop 0.4 bpa to 53.1 bpa, with output dropping 35 mbu to 4.266 bbu.
Brazil’s November soybean export total is estimated at 4.26 MMT, according to ANEC, a 0.49 MMT hike from the previous number.
Nov 25 Soybeans are at $11.14 1/4, down 1 3/4 cents,
Nearby Cash is at $10.55, down 1 3/4 cents,
Jan 26 Soybeans are at $11.28, down 2 cents,
Mar 26 Soybeans are at $11.39, down 1/4 cent,
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.
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