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IPC Index — Mexico MarketSoybeans were 1 to 4 cents higher across most contracts on Wednesday. The cmdtyView national average Cash Bean price was 4 1/4 cents lower at $10.21 3/4. Soymeal futures ere steady to $3.10 in the red, with Soy Oil futures 7 to 11 points higher.
USDA reported private export sales of 136,000 MT of soybeans to China and 119,000 MT to unknown destinations, as well as 212,000 MT to unknown received in the reporting period. Another 120,000 MT of soybean meal was sold to Poland.
The monthly NASS Fats & Oils report got caught up this afternoon, with September soybean crush totaling 204.93 million bushels, up 9.89% from a year ago. October crush was an all-time record for any month at 237 million bushels, a 9.86% increase over last year. Bean oil stocks were tallied at 1.781 billion lbs on October 31, up 11.89% from last year.
USDA will release Export Sales data for the week ending on November 13 on Thursday morning. Traders are looking for 0.6-1.4 MMT of soybean sales in that week. Soybean meal sales are seen in a 50,000 to 450,000 MT range, with bean oil sales at 5,000 to 25,000 MT.
Commitment of Traders data showed another 15,760 contracts added to the managed money net long position as of November 10 in their second update in as many days on Wednesday. That took their net long position to 194,443 contracts.
Jan 26 Soybeans closed at $10.91 1/4, up 4 cents,
Nearby Cash was $10.21 3/4, up 4 1/4 cents,
Mar 26 Soybeans closed at $11.01, up 2 3/4 cents,
May 26 Soybeans closed at $11.10 1/2, up 1 3/4 cents,
