Soybean Prices Slip Slightly Amid Steady Crop Conditions
On Wednesday morning, soybeans are trading with losses of 1 to 2 cents per bushel. The previous day saw futures contracts gain between 6½ and 10 cents across the board as open interest increased by 21,350 contracts, indicating new buying activity. The cmdtyView national average Cash Bean price rose 6½ cents to $12.57¼. Meanwhile, soymeal futures fell $1.50 to $5.30 at the close of Tuesday's trading session while soy oil prices increased by between 94 and 155 points. USDA data showed that soybean export shipments for the week ending September 3 totaled 422,016 metric tons (MT), a significant increase from the previous week but lower than last year. Egypt was the largest destination with 115,187 MT of imports.
Topics: futures_trading soybeans USDA_data