Soybeans closed the Wednesday session with contracts 2 ½ to 4 ½ cents higher for the 2026/27 crop, with the 2027/28 contracts down 1 ¾ to 7 cents. The cmdtyView national average Cash Bean price was up 2 3/4 cents at $11.69 3/4. Soymeal futures were down $3.70 in the deferreds, with front months up 20 cents to $3.20. Soy Oil futures were 79 to 111 points higher.
Crop Production data from Tuesday showed US soybean yield revised 0.2 bushel per acre higher from October to 53.3 bpa. That was compared to trade ideas of a 0.4 bpa increase. Production for the US was 12 million bushel higher to 4.574 billion.
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WASDE data showed US soybean ending stocks down 15 mbu to 300 mbu, despite the increased output, mainly on a 25 mbu increase to exports. World soybean stocks were down 0.78 MMT to 123.50 MMT, as the South American output was unchanged.
Export Sales data will be pushed back to Friday due to the Wednesday Veterans Day federal holiday.
ANEC estimates the Brazilian November export total at 4.37 MMT, a 1.04 MMT increase from their previous number.
Nov 26 Soybeans closed at $12.29, up 4 1/2 cents,
Nearby Cash was $11.69 3/4, up 2 3/4 cents,
Jan 27 Soybeans closed at $12.30 3/4, up 2 3/4 cents,
Mar 27 Soybeans closed at $12.38, up 3 1/2 cents,
Nov 27 Soybeans closed at $11.88 1/4, down 5 1/2 cents,
New Crop Cash was $11.20 1/4, down 5 1/4 cents,
On the date of publication, Austin Schroeder did not directly have a position 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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