Soybean Market See-Sawing in the Red

The soybean market is trading a penny to 6 cents weaker at midday. November has stayed mostly in the red, but is up from the -15 cent loss at the low an hour into the day session. Meal prices are also $3 to $4/ton lower so far. BO futures are trading in the black through Wednesday with gains of 24 to 33 points. 

After seeing the lowest prices since October 2021, Canadian Canola Prices are up for the 3rd session, gaining $6.10 CAD/MT. 

Analysts are expecting between 100k and 400k MT of old crop soybean sales ahead of the weekly FAS Export Sales report. New crop sales are expected to be below 100k MT. For the products, analysts expect 75k to 300k MT old crop meal bookings and 0-20k MT of old crop oil sales.

May 23 Soybeans  are at $14.36 3/4, down 2 3/4 cents,

Nearby Cash is at $13.91 1/1, down 3 1/2 cents,

Jul 23 Soybeans  are at $14.07 1/4, down 3 1/2 cents,

Nov 23 Soybeans  are at $12.63 1/2, down 3 3/4 cents,

On the date of publication, Alan Brugler 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.