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Austin Schroeder

Soybeans Slipping Lower on Friday

CmdtyView Oil USDA

Soybeans are trading with 4 to 5 ½ cent losses at midday. The cmdtyView national average Cash Bean price is down 5 1/4 cents at $10.66 1/4. Soymeal futures are 10 to 60 cents higher on the day, with Soy Oil futures 40 to 47 points lower. The markets will be closed on Monday for President’s Day.

USDA Export Sales data has soybean commitments at 34.572 MMT, which was down 20% from a year ago. That is also 81% of USDA’s export projection and lags the 89% pace via the 5-year average.

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