
Soybeans are trading with 12 to 16 cent losses to begin Friday AM trade. They posted 6 to 10 cent gains across the nearbys on Thursday, bouncing back from the Wednesday losses. CmdtyView’s national front month Cash Bean price was down 9 1/2 cents at $10.05 ¾. Soymeal futures were mixed, down 50 cents in the nearbys and up 10 to 50 cents in the deferreds. Soy Oil futures were rebounding from Wednesday with contracts up 39 to 62 points.
Release of the Weekly Export Sales data has been pushed back this morning due to the Monday holiday. Analysts surveyed by Reuters are looking for 0.6 to 1.8 MMT in 2024/25 bean sales, with 0-50,000 MT for 2025/26. Meal is estimated to be 100,000-450,000 MT, with 10,000-60,000 MT for bean oil.
The Buenos Aires Grain Exchange trimmed their Argentina soybean estimate at 49.6 MMT, down 1 MMT from their previous number. Argentina is cutting their soybean export tax from 33% to 26% starting on January 26, with meal and bean oil down from 31% to 24.5%.
Mar 25 Soybeans closed at $10.65 1/2, up 9 1/2 cents, currently down 16 1/4 cents
Nearby Cash was $10.05 3/4, up 9 1/2 cents,
May 25 Soybeans closed at $10.77 3/4, up 9 1/2 cents, currently down 16 cents
Nov 25 Soybeans closed at $10.53 1/4, up 6 1/2 cents, currently down 12 1/4 cents
New Crop Cash was $9.89 3/4, up 7 1/4 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.