Soybeans Pull Out Gains on Wednesday Despite Product Weakness

Soybeans emerging in the spring by jcesar2015 via Pixabay

Soybeans settled Wednesday with contracts up anywhere from 1 ¼ to 4 cents. CmdtyView’s national front month Cash Bean price was up 4 1/4 cents at $9.57 1/4. Soymeal was down a dime to $1.80/ton on the day. Soy Oil futures were steady to down 11 points on the day. 

Export sales data will be released on Thursday morning, with the trade looking for 0.8 to 1.7 MMT in soybean export sales for 24/25. For soybean meal, traders estimate 100,000 to 400,000 MT in the week of 10/3, with 0 to 20,000 MT for bean oil.

Crop Production estimates via a Bloomberg survey of analysts show soybean yield at 53.2 bpa, which would be unchanged from the September (and August) reports. Production is seen at 4.582 billion bushels.

Nov 24 Soybeans  closed at $10.20 1/4, up 4 cents,

Nearby Cash  was $9.57 1/4, up 4 1/4 cents,

Jan 25 Soybeans  closed at $10.37, up 2 1/2 cents,

May 25 Soybeans  closed at $10.65 1/2, up 1 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.