Soybeans slipped lower on Wednesday though nearby contracts bounced 6 to nearly 10 cents off the lows to close with losses of 3 to 10 cents. The cmdtyView national average Cash Bean price was down 2 3/4 cents at $11.87. Soymeal futures were down 40 cents to $2.60, as Soy Oil futures were 71 to 90 points lower.
USDA reported a private export sale of 134,000 MT of soybeans to China this morning, all for 2026/27, with another 165,000 MT sold to Spain.
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The weekly Export sales report will be out on Thursday morning, as analysts surveyed by Reuters are looking for 1.8-3 MMT of 26/27 soybean sales in the week of 10/15. Daily announcements were tallied at 1.877 MMT during that week. Bookings for 2027/28 are expected to total 0-25,000 MT.
The NOAA 7-day forecast remains relatively dry, though a system is expected to work into the NM/CO and Texas Panhandle to western KS and parts of NE over the weekend. Producers have worked to get back to a normal harvest pace despite the early delays.
Nov 26 Soybeans closed at $12.45 1/4, down 3 cents,
Nearby Cash was $11.87, down 2 3/4 cents,
Jan 27 Soybeans closed at $12.58 1/4, down 5 1/4 cents,
Mar 27 Soybeans closed at $12.66 1/4, down 7 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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