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Soybean futures rise before USDA data after recent selloff
Reuters survey expectations point to a 52.9 bushel per acre US soybean yield, with harvested acres forecast 163,000 higher at 84.564 million.
Soybean futures turned higher ahead of an upcoming USDA report, with contracts moving up roughly 3 to 4.5 cents after Tuesday losses of 3 to 10.75 cents, according to market coverage carried by Yahoo Finance.
The article notes the cmdtyView national average cash bean price fell 10 cents to $11.26 1/4, while soymeal futures were lower by 30 to 70 cents in the front months and soy oil declined by 48 to 102 points.
USDA also reported private export activity, including 136,000 metric tons of soybeans sold to China for 2026/27 shipment and 180,000 MT of soybean meal sold to the Philippines.
In crop conditions, Weekly Crop Progress showed ratings down 1 percentage point at 62% good to excellent, with the Brugler500 index slipping 2 points to 361, and a Reuters trader survey expected NASS to peg the US soybean yield at 52.9 bpa, with harvested acres seen up 163,000 to 84.564 million acres.
Latest closeSoybeans $1,183.25 ▲3.1%