Soybeans Steady to Start Thursday Trade

Soybeans are showing firmer trade on Thursday morning, steady to fractionally higher. Futures posted losses of 1 to 2 ½ cents across most front months on Wednesday. Preliminary open interest was up 6,299 contracts on Wednesday. The cmdtyView national average Cash Bean price was down 3 ¾ cents at $9.73 1/2. Soymeal futures were $3.40 to $6.20 lower on Wednesday, with Soy Oil futures down 11 to 33 points.

USDA’s Export Sales report is expected to show between net reductions of 200,000 MT and sales of 50,000 MT in the week ending on August 21. New crop is seen between 0.45 and 1 MMT in that week. Soybean meal sales are seen between 125,000 MT and 450,000 MT, with soybean oil sales at 0 to 14,000 MT.

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The NOAA 7-day QPF shows a very little precip in the Eastern Corn Belt and light totals in parts of NE, SD, MN, and IA over the next week.

Sep 25 Soybeans  closed at $10.27 1/4, down 1 1/2 cents, currently unch

Nearby Cash  was $9.73 1/2, down 3 3/4 cents,

Nov 25 Soybeans  closed at $10.47 1/2, down 2 cents, currently up 1/4 cent

Jan 26 Soybeans  closed at $10.66 3/4, down 2 1/2 cents, currently 1/4 cent

New Crop Cash  was $9.68 3/4, down 3 1/4 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. This article was originally published on Barchart.com

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