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Barchart
Barchart
Austin Schroeder

Soybeans Higher to Kick Off Thursday Trade

CmdtyView

Soybeans are trading with 2 to 4 cent gains on Thursday. Futures posted gains across the nearbys on Thursday with contracts fractionally to 4 cents higher. Open interest was down 5,998 contracts. The cmdtyView national average Cash Bean price was 6 1/4 cents higher at $9.65 1/2. November soybeans have now averaged $10.19 through October. Soymeal futures were steady to $3.10 higher on the day, with Soy Oil 10 to 58 points lower.

No Export Sales data will be released on Thursday due to the government shutdown, with the trade expecting that between 0.6 and 2 MMT of soybean were sold in the week ending on October 16. Meal sales are seen at 150,000 to 450,000 MT, with bean oil in the 5,000 to 25,000 MT range.

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