Soybeans posted Wednesday losses of 3 to 4 ½ cents at the close. The cmdtyView national average Cash Bean price was 5 cents lower at $9.87 1/4. Soymeal futures were $4.10 to $5.20 lower, with Soy Oil futures steady to 16 points higher.
USDA reported a couple private export sales of 198,000 MT of soybean to China and 125,000 MT to unknown destinations this morning.
Another delayed update to the backlogged CFTC reports showed managed money adding just 1,137 contracts to their net long as of the week ending on 12/2. That net long was 215,428 contracts in soybean futures and options.
ANEC estimates the Brazilian soybean exports for December at 3.57 MMT, a 0.24 MMT increase from last week’s estimate.
Jan 26 Soybeans closed at $10.58 1/4, down 4 1/2 cents,
Nearby Cash was $9.87 1/4, down 5 cents,
Mar 26 Soybeans closed at $10.68 3/4, down 3 cents,
May 26 Soybeans closed at $10.80, down 3 cents,
