Soybeans are showing 2 to 3 cent gains across most contracts, with Nov down ¼ cent ahead of Friday’s expiration. There was another 29 deliveries reported for November futures overnight, taking the total to 1,736 for the month. The cmdtyView national average Cash Bean price is 3 ¼ cents higher at $10.56 1/2. Soymeal futures are up $2.20 to $2.60 on the day, with Soy Oil futures 51 to 53 points lower.
Crop Production data is expected to be released on Friday, as a Reuters survey of traders shows soybean yield expected to drop 0.4 bpa to 53.1 bpa, with output dropping 35 mbu to 4.266 bbu. Ending stocks via the monthly WASDE report are expected to total 304 mbu, vs. the 300 mbu from September.
Nov 25 Soybeans are at $11.13, down 1/4 cent,
Nearby Cash is at $10.56 1/2, up 3 1/4 cents,
Jan 26 Soybeans are at $11.30 1/4, up 3 cents,
Mar 26 Soybeans are at $11.40 1/2, up 2 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.
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