Soybeans were back and forth on Wednesday, with contracts steady to fractionally higher at the close. The cmdtyView national average Cash Bean price was 1/4 cent higher at $9.32 3/4. Soymeal futures were up $1.10 to $1.60 at the close, with Soy Oil 23 to 28 points higher in the nearbys
NOPA data from this morning showed 197.86 million bushels of soybeans crushed during September, well above the 186.34 mbu estimate. That was a 4.24% increase from August and 11.59% larger than last year’s September record. Soybean oil stocks were 0.17% below the end of August at 1.24 billion lbs, which was also 16.6% above last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Export Sales data will not be published on the holiday delayed Friday release due to the government shutdown. Still traders were looking for between 0.4 and 1.4 MMT in soybean sales in the week of October 9. Bean meal sales were seen at 150,000-400,000 MT, with soy oil in between 5,000 and 30,000 MT.
Nov 25 Soybeans closed at $10.06 1/2, unch,
Nearby Cash was $9.32 3/4, up 1/4 cent,
Jan 26 Soybeans closed at $10.24 1/4, unch,
Mar 26 Soybeans closed at $10.39 3/4, up 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.
More news from Barchart
- Grain Traders Are Shocked by Unexpected Deterioration in U.S.-China Relations. 5 Things to Watch for a Turnaround.
- Will Cotton Ever Rally?
- As China Shuns U.S. Ag Products, Make This 1 Trade Now
- Corn, Soybean Bulls Had One Foot in the Grave Last Week. What to Watch Next.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
