Soybeans settled Wednesday trade with contracts 3 to 7 ¼ cents higher in the front months, as some deferred were steady to slightly lower. January expired today. The cmdtyView national average Cash Bean price was 4 cents higher at $9.70 1/2. Soymeal futures were up 80 cents to $1.20 to close out the day, as Soy Oil futures were down 2 to 22 points. There were 47 deliveries issued against soybeans overnight, with 7 for January bean oil.
USDA reported a private export sale of 334,000 MT of soybeans to China on this morning via their daily announcements system.
NOPA data will be out on Thursday, with traders looking for a total of 224.8 million bushels of soybeans crushed in December.
Export Sales data will be released on Thursday morning with analysts looking for between 0.8-1.8 MMT in soybean sales in the week ending on 1/8. Soybean meal sales are seen between 150,000-400,000 MT, with 0-26,000 MT for bean oil.
Chinese soybean imports in December were tallied at 8.04 MMT, an increase of 1.3% from the same month last year.
Jan 26 Soybeans closed at $10.30 1/2, up 7 1/4 cents,
Nearby Cash was $9.70 1/2, up 4 cents,
Mar 26 Soybeans closed at $10.42 1/2, up 3 3/4 cents,
May 26 Soybeans closed at $10.55, up 3 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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