The soybean market is trading with 4 to 6 ¼ cent gains so far on Wednesday. The cmdtyView national average Cash Bean price is 6 1/4 cents higher at $9.51 1/2. Soymeal futures are $1.90 to $2.80 higher so far. There were another 99 deliveries against October meal overnight. Soy Oil futures are up 12 to 27 points on the day. The CBOT reported 25 deliveries for October bean oil overnight.
November soybeans have averaged $10.19 so far through the 5 trade days in October, with the full month’s average used in the harvest price discovery for crop insurance.
Brazilian soybean exports are estimated at 7.12 MMT during October, which is well above the 4.44 MMT in the same period last year.
Nov 25 Soybeans are at $10.28 1/4, up 6 1/4 cents,
Nearby Cash is at $9.51 1/2, up 6 1/4 cents,
Jan 26 Soybeans are at $10.43 3/4, up 4 3/4 cents,
Mar 26 Soybeans are at $10.57 1/4, up 4 1/4 cents,
