Soybeans are trading with losses of 2 to 4 cents across most contracts on Wednesday, as November tries to hold the $10 mark at midday. The cmdtyView national average Cash Bean price is 4 ¾ cents lower at $9.20 ¼. Soymeal futures are down $1.90 to $3.70/ton, with Soy Oil futures trading higher, up 60 to 64 points.
Continued lack of export business as we head into the busiest part of the soybean export season is putting extended pressure on the market.
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Analysts estimate the August soybean crush to total 196.4 million bushels. The Fats & Oils report is due this afternoon, though it has been delayed due to the government shutdown.
Nov 25 Soybeans are at $9.99 1/4, down 2 1/2 cents,
Nearby Cash is at $9.20 1/4, down 4 3/4 cents,
Jan 26 Soybeans are at $10.17 1/4, down 3 cents,
Mar 26 Soybeans are at $10.33, down 2 3/4 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
