Soybeans are up 3 to 4 cents across the nearbys during Thursday AM trade. Futures were mixed on Wednesday, with contracts steady to fractionally higher at the close.
Preliminary open interest fell by 10,590 contracts on Wednesday, primarily in the November contract, which dropped 18,472 contracts. The cmdtyView national average Cash Bean price inched up by 1/4 cent to $9.32 3/4.
Soymeal futures closed $1.10 to $1.60 higher, while Soy Oil gained 23 to 28 points in the nearbys.
NOPA data released Wednesday morning showed that 197.86 million bushels of soybeans were crushed during September, well above the estimate of 186.34 million bushels. This figure reflects a 4.24% increase from August and an 11.59% rise compared to last year’s September record.
Soybean oil stocks were slightly down by 0.17% from the end of August at 1.24 billion pounds, yet still 16.6% higher than last year.
**Market Expectations and Export Sales**
Due to the government shutdown, the Export Sales data scheduled for Friday will be delayed and not published on the holiday. Traders, however, are expecting soybean sales in the range of 0.4 to 1.4 million metric tons during the week of October 9. Bean meal sales are anticipated between 150,000 and 400,000 metric tons, with soy oil sales estimated between 5,000 and 30,000 metric tons.
**Price Summary**
– November 25 Soybeans closed at $10.06 1/2, unchanged, currently up 3 3/4 cents.
– Nearby Cash Beans are at $9.32 3/4, up 1/4 cent.
– January 26 Soybeans closed at $10.24 1/4, unchanged, currently up 4 cents.
– March 26 Soybeans closed at $10.39 3/4, up 1/4 cent, currently up 4 cents.
*Disclaimer:* On the date of publication, Austin Schroeder did not hold (directly or indirectly) positions in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please review the [Barchart Disclosure Policy](https://www.barchart.com/disclosure).
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*Note: The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.*
https://www.nasdaq.com/articles/soybeans-ticking-higher-thursday-morning