Soybeans Pulling Off Early Lows at Midday
Soybeans are off the early low from Thursday, with midday losses of 3 to 4 cents and September down 8 cents on thin trade in deliveries. The cmdtyView national average Cash Bean price was down 4 1/2 cents at $9.50 3/4. Soymeal futures are up $2.60 to $4.60. Soy Oil futures are 25 to 30 points lower. There were 13 deliveries against September meal overnight, with 82 issued for September bean oil.
Export Sales data will be released on Friday morning due to the Monday holiday.
Monthly export data was released this morning via Census, with 1.751 MMT (64.3 mbu) of soybeans shipped, a 3 year high for July, up 17.44% from last year, and 16.67% larger than June. The first 11 months of the MY have totaled 48.95 MMT (1.798 bbu).
Census data reported meal exports at 1.392 MMT, which was a record for July, up 37.3% from last year and 5.14% larger than June. Bean oil shipments were 28,583 MT, the lowest since last November.
Sep 25 Soybeans are at $10.08, down 8 cents,
Nearby Cash is at $9.50 3/4, down 4 1/2 cents,
Nov 25 Soybeans are at $10.28, down 3 1/2 cents,
Jan 26 Soybeans are at $10.46 1/2, down 3 1/2 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.