Soybeans are down 6 to 8 cents early on Wednesday. The market closed with Tuesday losses of 9 to 11 cents. Preliminary open interest was down 16,902 contracts, with 21,737 contracts leaving May ahead of FND. OI was just 5,160 contracts for the in delivery contract, with 3 deliveries issued overnight. CmdtyView’s national front month Cash Bean price is down 10 1/2 cents at $9.95 1/4. Soymeal futures were up 70 cents to $3.50/ton, with Soy Oil futures were back down 94 to 113 points. May soybean meal had 629 deliveries issued overnight, with 852 contracts for May bean oil. 

A private export sale of 110,000 MT of soybeans to unknown for 2024/25 were announced by the USDA on Tuesday morning.

Argentina’s ag ministry estimates producer soybean sales are the slowest in 11 years, as producers are hold onto the crop due to uncertainty over the country’s currency exchange rate and a slower harvest.

May 25 Soybeans  closed at $10.41, down 11 cents, currently down 6 ½ cents

Nearby Cash  was $9.95 1/4, down 10 1/4 cents,

Jul 25 Soybeans  closed at $10.52 3/4, down 9 3/4 cents, currently down 8 ¼ cents

Nov 25 Soybeans  closed at $10.25 1/4, down 9 1/2 cents, currently down 7 ¼ cents

New Crop Cash  was $9.64 3/4, down 9 3/4 cents,