Soybeans are showing slight 1 to 2 cent gains across most front months on Friday. The cmdtyView national average Cash Bean price is 1 1/4 cents higher at $9.37 1/2. Soymeal futures are up 80 cents to $1.10 at midday, with Soy Oil futures 8 to 10 points higher.
USDA’s weekly Export Sales report took the total export commitments to 11.002 MMT as of 9/18, 37% below last year for this week. Compared to the USDA export projection it is 24% complete, vs the 45% average sales pace. Sales outside of China (the entire 11 MMT) are at a 3-year high, with commitments excluding China and unknown destinations the largest since 2018/19 at 7.2 MMT.
Analysts are looking for NASS to show September 1 soybean stocks at 325 mbu in the Tuesday Grain Stocks report. Analysts surveyed by Bloomberg range from 295 to 366 mbu.
Nov 25 Soybeans are at $10.13 1/2, up 1 1/4 cents,
Nearby Cash is at $9.37 1/2, up 1 1/4 cents,
Jan 26 Soybeans are at $10.32 3/4, up 1 1/2 cents,
Mar 26 Soybeans are at $10.48 3/4, up 1 1/4 cents,
