Soybeans are trading with Friday midday losses of 7 to 10 cents as the trade looks to round out the week. November soybean options expire today. The average close for November soybean futures so far in October is $10.10. That is $1.45 below the February base insurance price. CmdtyView’s national front month Cash Bean price was down 9 ¾ cents at $9.30 ½. Soymeal futures are down $4.60/ton. Soy Oil contracts are 38 points lower so far on the day.
USDA reported a private export sale of 116,000 MT of 2024/25 soybeans to China this morning.
The weekly Export Sales report from USDA showed 2.15 MMT of 2024/25 bookings in the week of 10/17. That brough the marketing year total to 23.993 MMT, which is 48% of the USDA export forecast. The 5-year average pace is to be 56% sold by this time.
Nov 24 Soybeans are at $9.86 1/4, down 10 cents,
Nearby Cash is at $9.30 1/2, down 9 3/4 cents,
Jan 25 Soybeans are at $9.96 1/2, down 8 1/2 cents,
May 25 Soybeans are at $10.23 1/4, down 7 cents,
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Read More: Soybeans Heading Lower on Friday, with Product Pressure