Soybeans are down 6 to 9 ½ cents across most contracts at midday. The cmdtyView national average Cash Bean price is 9 1/2 cents lower at $10.53 1/4. Soymeal futures were back down $5.40, with Soy Oil futures 32 points lower.
Soybean export bookings came in the middle of the trade range estimates of 0.6 to 1.6 MMT at 919,447 MT for the week of 10/2. That was a 3-week high but still down 8.6% from the same week last year. Soy meal sales were 328,300 MT, on the high side of between 150,000 and 350,000 MT estimates. Bean oil sales were net reductions of 11,800 MT.
USDA reported another 462,000 MT of soybeans sold to China via their daily announcement system on Wednesday morning. That followed the total 1.122 MMT so far this week and takes the total known sales to China to 1.812 MMT.
Commitment of Traders data from the week of September 30 showed managed money increasing their net short in soybean futures and options by 9,410 contracts. That brough their net short to 38,712 contracts at the end of September.
Jan 26 Soybeans are at $11.26 3/4, down 9 1/2 cents,
Nearby Cash is at $10.53 1/4, down 9 1/2 cents,
Mar 26 Soybeans are at $11.36 1/4, down 8 1/4 cents,
May 26 Soybeans are at $11.45, down 7 1/2 cents,
