Soybeans Fall on Wednesday with Bean Oil Weakness
Soybeans posted 6 to 7 cent losses in the front months at the close. The cmdtyView national average Cash Bean price was down 5 1/2 cents at $9.67. Soymeal futures were down 40 cents to $1.90 in the front months with contracts up a dime to $1.60. Soy Oil futures gave back the Tuesday gains, with contracts down 108 to 145 points.
Weekly Export Sales data will be released on Thursday morning, with traders looking for between 0.4 and 1.5 MMT in 2025/26 soybean business. Meal sales are seen between 0 and 400,000 MT, and bean oil business seen between net reductions of 5,000 MT and sales of 41,000 MT.
Statistics Canada estimates the country’s canola crop at 20.03 MMT, which would be a 4.1% increase from last year if realized and is 0.1 MMT above the August estimate. Soybean production is estimated at 7.134 MMT, down 5.7% from a year ago.
Nov 25 Soybeans closed at $10.43 3/4, down 6 cents,
Nearby Cash was $9.67, down 5 1/2 cents,
Jan 26 Soybeans closed at $10.63, down 6 1/4 cents,
Mar 26 Soybeans closed at $10.78, down 6 1/4 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.