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Soybeans Pulling Off Early Session LowsSoybeans are trading 2 to 3 ¼ cents lower so far on Friday, with midday action well off the early double digit losses. CmdtyView’s national front month Cash Bean price is dow 3 cents at $9.48 1/2. Soymeal futures are adding the pressure with losses of $4/ton. Soy Oil futures are up 13 ticks so far on the day. The USDA reported a private export sale of 121,000 MT of soybeans to China this morning via the daily reporting system. USDA’s weekly Export Sales report showed a total of 15.993 MMT of US soybeans have been sold for export for 2024/25, whether shipped or unshipped, down 6% from last year. That is 32% of the USDA export forecast, lagging the 42% average selling pace. Chinese August import of soybeans totaled 202,383 MT from the US, nearly double the same month in 2023. Imports from Brazil totaled 10.24 MMT, up 12% from a year ago. Nov 24 Soybeans are at $10.10 1/4, down 3 cents, Nearby Cash is at $9.48 1/2, down 3 cents, Jan 25 Soybeans are at $10.28, down 3 1/4 cents, May 25 Soybeans are at $10.56 3/4, down 2 1/2 cents, New Crop Cash is at $9.48 1/2, down 3 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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