Soybeans posted losses of 9 to 13 ¾ cents on Thursday in the front months, with deferred contracts 3 to 7 ½ cents in the red. Futures continue to sell the fact as China purchases trickle in. The cmdtyView national average Cash Bean price was 13 1/2 cents lower at $10.49 1/4. Soymeal futures were back down $1.50 to $4.90, with Soy Oil futures 37 to 47 points lower.
Soybean export bookings came in the middle of the trade range estimates of 0.6 to 1.6 MMT at 919,447 MT for the week of 10/2. That was a 3-week high but still down 8.6% from the same week last year. Soy meal sales were 328,300 MT, on the high side of between 150,000 and 350,000 MT estimates. Bean oil sales were net reductions of 11,800 MT.
USDA reported another 462,000 MT of soybeans sold to China via their daily announcement system on Wednesday morning. That followed the total 1.122 MMT so far this week and takes the total known sales to China to 1.812 MMT.
World soybean production was trimmed by 2 MMT according to International Grains Council data, with consumption rising 1 MMT and ending stocks down 2 MMT to 77 MMT.
Jan 26 Soybeans closed at $11.22 1/2, down 13 3/4 cents,
Nearby Cash was $10.49 1/4, down 13 1/2 cents,
Mar 26 Soybeans closed at $11.32, down 12 1/2 cents,
May 26 Soybeans closed at $11.41 1/2, down 11 cents,
