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Austin Schroeder

Soybeans Fade Post-USDA Report Gains to Close Lower on Wednesday

USDA CmdtyView

Soybeans failed to see strength on a friendly stocks number on Wednesday, with contracts down 2 ¼ to 5 cents at the close. Sharp losses in corn were a spillover pressure factor. The cmdtyView national average Cash Bean price was down 4 1/2 cents at $12.39 1/2. Soymeal futures were down $1.80 to $2.30, with Soy Oil steady to 16 points lower.

USDA reported a private export sale of 105,000 MT of soybeans to unknown destinations this morning.

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