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Soybeans are ignoring the export business reported this morning, as contracts are down 9 to 10 cents at midday. CmdtyView’s national front month Cash Bean price is down 9 cents at $9.37 1/2. Soymeal futures are down $3.60/ton on the day. There were another 126 deliveries issued against December soybean meal overnight. Soy Oil futures are down 6 points so far on the session. There were 122 delivery notices issued against December bean oil futures overnight.
USDA reported a private export sale of 200,000 MT of soybeans to unknown destinations for 2024/25 this morning.
Export Sales data shows total shipments at 23.487 MMT, 22% larger than last year and a 4-year high. That is 47% of USDA’s 1.825 bbu full year estimate, ahead of the 43% average pace. Bean commitments are 37.284 MMT, now 12% above last year and 75% of the USDA projection, on pace with normal.
NOPA data will be updated on Monday, with the trade looking for 196.713 mbu of soybeans crushed during November. Stocks are estimated at 1.123 billion lbs.
Jan 25 Soybeans are at $9.86 3/4, down 9 cents,
Nearby Cash is at $9.37 1/2, down 9 cents,
Mar 25 Soybeans are at $9.93 3/4, down 9 1/2 cents,
Jul 25 Soybeans are at $10.14 3/4, down 9 cents,
On the date of publication,
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
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