The soybean market settled the midweek session with nearbys fractionally lower to and some new crop months fractionally higher. CmdtyView’s national front month Cash Bean price was down 1/2 cents at $9.42 1/2. Soymeal futures closed the midweek session with contracts down 90 cents to $1.50/ton, with Soy Oil futures 33 to 41 points higher on the day.
Weekly Export Sales data is expected to show 2024/25 soybean sales totaling 300,000-900,000 MT in the week of 3/20, with new crop sales seen between 0-50,000 MT. Soybean meal bookings are estimated at 150,000 to 450,000 MT, with 5,000 to 30,000 MT expected for soybean oil.
Commodity Bulletin: From crude oil to coffee, this FREE newsletter is for industry pros and rookies alike
March 1 soybean stocks are estimated to total 1.905 bbu according to a Bloomberg survey of analysts, ahead of the March 31 Grain Stocks report next Monday. The range of estimates is from 1.823 to 2.016 bbu.
Soybean exports out of Brazil in March are expected to total 15.56 MMT, according to ANEC, steady with the estimate from the week prior. Meal exports are estimated at 2.3 MMT, down 0.3 MMT from the previous number.
May 25 Soybeans closed at $10.01, down 3/4 cent,
Nearby Cash was $9.42 1/2, down 1/2 cent,
Jul 25 Soybeans closed at $10.15, down 1/2 cent,
Nov 25 Soybeans closed at $10.06 3/4, up 1/4 cent,
New Crop Cash was $9.42 1/4, 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
