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The soybean market is trading with mixed action on Wednesday as most nearbys are up 1 to 3 cents and new crop Nov down a penny. CmdtyView’s national front month Cash Bean price is up 1 1/2 at $9.43. Soymeal futures are back down 40 cents/ton on the day, with Soy Oil futures 38 points higher on the session. There were no deliveries against Jan soybean overnight, with 127 issued against January meal and 89 for Jan bean oil.
USDA reported a private export sale of 120,000 MT of soybeans to unknown destinations this morning for 2024/25 shipment.
USDA will release a slew of reports on Friday, with the trade looking for us bean yield to be down 0.1 bpa to 51.6 bpa. Production is seen down 8 mbu to 4.453 bbu, as harvested acres are estimated to be slightly higher from the November report.
The weekly Export Sales report is delayed until Friday as the government offices will be closed Thursday off due to former President Carter’s funeral. The markets will be closing at 12:15 pm CST on Thursday.
Jan 25 Soybeans are at $9.90 1/2, down 1 3/4 cents,
Nearby Cash is at $9.43, up 1 1/2 cents,
Mar 25 Soybeans are at $9.98 1/2, up 1 1/4 cents,
Jul 25 Soybeans are at $10.21, up 2 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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