Soybeans are slipping on Wednesday, with losses of 5 to 6 cents thus far on the day. There were an additional 15 distributions reported over night. The cmdtyView nationwide typical Cash money Bean rate is down 5 1/ 2 cents at $ 9 48 Soymeal futures are pull back $ 3 to $ 4 70 in the front months, with Soy Oil futures steady to 32 factors greater. The CME reported one more 8 September soybean meal deliveries issued overnight, with 87 for bean oil.
The month-to-month Plant Production report will certainly be out on Friday, with a Reuters survey showing an expected 0. 3 bpa decrease to generate at 53 3 bpa typically. Manufacturing is approximated at 4 271 bbu, a 21 mbu decrease if recognized. USDA will also change finishing supplies, with the 2024/ 25 MY seen at 328 mbu, down simply 2 mbu contrasted to August. New crop supplies are seen at 288, once again, just 2 mbu reduced vs. August.
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Brazil soybean exports are approximated at 7 43 MMT, according to ANEC, up 0. 68 MMT from the estimate last week.
Sep 25 Soybeans are at $ 10 09 3/ 4, down 1 3/ 4 cents,
Neighboring Money is at $ 9 48, down 5 1/ 2 cents,
Nov 25 Soybeans go to $ 10 25 3/ 4, down 5 1/ 2 cents,
Jan 26 Soybeans go to $ 10 45 1/ 4, down 5 1/ 4 cents,
On the date of publication,
Austin Schroeder
did not have (either straight or indirectly) placements in any one of the safeties mentioned in this article. All info and information in this write-up is exclusively for informational functions.
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