Soybeans are trading with Wednesday morning 1 to 2 cent losses. Futures posted late session strength on Tuesday, with contracts rallying 10 ¾ to 22 ¼ cents on the day, led by the front months. Open interest was up 11,225 contracts on Tuesday, suggesting new buying. The cmdtyView national average Cash Bean price was up 21 1/2 cents at $12.47 1/2. Soymeal futures were up $5.40 to $7.70, with Soy Oil futures 28 to 63 points higher.
Monthly export data from Census showed 1.465 MMT (53.82 mbu) of soybeans shipped in August, which was down 22.54% from last month and 36.1% below from last year. Soybean meal exports were a record at 1.366 MMT in August.
.jpg?w=600)
