Soybeans Face Losses on Wednesday

Soybean field crop rows by oticki via iStock

Soybeans were pressured lower on Wednesday, with losses of 9 to 11 cents across most nearbys at the close. CmdtyView’s national front month Cash Bean price was 10 1/4 cents lower at $9.37. Soymeal futures were down $1.70 to $2.50/ton in the nearbys on Wednesday, with Soy Oil futures 19 to 26 points lower. 

Retaliatory tariffs from the EU due to President Trump’s steel and aluminum tariffs are set to begin in early April and include soybeans. While the EU has no US soybeans on the books, the US has shipped 4.5 MMT to the EU this marketing year.

USDA’s weekly Export Sales report will be released tomorrow morning, with estimates of 275,000 to 700,000 MT for 2024/25 soybean sales. Sales for new crop are estimated at 0-100,000 MT. Soybean meal sales are seen in a range of 190,000 to 410,000 MT, with bean oil between 40,000 and 85,000 MT.

Stats Canada planting intentions data from this morning showed producers expecting to plant 21.65 million acres of canola this year, down 1.7% from last year if realized. Soybean acreage is estimated at 5.64 million aces, down 1.37% yr/yr.

Mar 25 Soybeans  closed at $9.87 1/2, down 10 1/4 cents,

Nearby Cash  was $9.37, down 10 1/4 cents,

May 25 Soybeans  closed at $10.00 1/2, down 10 3/4 cents,

Nov 25 Soybeans  closed at $10.06 1/2, down 9 cents,

New Crop Cash  was $9.42 1/1, down 9 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.