Soybeans are trading with Wednesday midday losses of 4 to 6 cents. CmdtyView’s national front month Cash Bean price is down 4 3/4 cents at $9.46. Soymeal futures are down $2.70/ton. Soy Oil futures are down 4 points at midday
The current soybean/corn ratio is at 2.24, favoring a shift to corn acres. S&P Global estimates the 2024 soybean planting total at 83.3 million acres, steady with their January estimate and down 3.8 million acres from a year ago. Allendale estimates the planted acreage total at 84.28 million acres according to a producer survey.
Abiove estimates the Brazilian soybean crop at 170.9 MMT, which is down 0.8 MMT from their previous estimate.
May 25 Soybeans are at $10.08, down 4 3/4 cents,
Nearby Cash is at $9.46 1/1, down 4 3/4 cents,
Jul 25 Soybeans are at $10.21 1/4, down 5 1/4 cents,
Nov 25 Soybeans are at $10.09 3/4, down 5 3/4 cents,
New Crop Cash is at $9.45, down 6 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.
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