Soybeans are fading back lower on Thursday with contracts down 4 to 7 cents in the front months. The cmdtyView national average Cash Bean price is 6 1/4 cents lower at $9.46 1/4. Soymeal futures are down 90 cents to $1 in the front months. There were another 61 deliveries against October meal overnight. Soy Oil is down 40 to 50 points on the day amid pressure from crude oil. The CBOT reported 11 deliveries for October bean oil overnight. November soybeans have averaged $10.21 so far through the 6 trade sessions in October, with the full month’s average used in the harvest price discovery for crop insurance.
Harvest should continue to progress across most of the country, with parts of the Dakotas and MN expected to see 1 to 2 inches in the early part of next week.
Despite the weekly Export Sales report being suspended with the government offline, traders are still expecting 0.6-1.6 MMT of 2025/26 soybean sales in the week of 10/2. Meal bookings were seen at 150,000-350,000, with 0-25,000 MT for oil.
StoneX expects to see biodiesel demand in Brazil to rise 6.3% to 10.5 billion liters.
Nov 25 Soybeans are at $10.22 1/4, down 7 1/4 cents,
Nearby Cash is at $9.46 1/4, down 6 1/4 cents,
Jan 26 Soybeans are at $10.38 3/4, down 5 1/2 cents,
Mar 26 Soybeans are at $10.52 3/4, down 4 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions 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.
