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Barchart
Barchart
Austin Schroeder

Soybeans Steady to Kick Off Wednesday Trade

CmdtyView

Soybeans are showing quiet Wednesday AM action , with most contracts within a penny of unchanged. Futures faced weakness on Tuesday, with contracts down 2 to 3 ¼ cents. Open interest was down 3,320 contracts on Tuesday, with Jan down 8,878 contracts and March up 5,262 contracts. The cmdtyView national average Cash Bean price was 3 3/4 cents lower at $10.54 3/4. Soymeal futures were down $1.30 to $3, with Soy Oil futures 29 to 35 points higher. There were 3 deliveries issued against December soybean meal overnight, with 128 for December bean oil.

Outside of last week’s limited Chinese buying, daily flash sale announcements from the USDA have been quiet. Reuters reported at least 6 cargoes of US beans for China are scheduled for the middle of December.

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