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Barchart

Austin Schroeder

Soybeans Fades Off Early Session Highs on Wednesday

Soybeans saw marginal gains of 2 to 3 ¼ cents in most contracts on Wednesday, with most contracts fading the USDA export sale announcement this morning, 6 to 8 cents off the highs. The cmdtyView national average Cash Bean price was up 1 3/4 cents at $10.79. Soymeal futures were steady to down $1.10, with Soy Oil futures falling another 77 to 138 points. The market will round out the week on Thursday, with Friday off in observance of Juneteenth.

USDA reported 372,000 MT of soybeans to unknown destinations this morning with 60,000 MT for old crop an 312,000 MT for new crop shipment.

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