Soybeans Posting Midweek Weakness

Market Overview - Soybeans are experiencing losses of 5 to 6 ¼ cents at midday, with the national average cash bean price at $9.67 1/4, down 5 1/4 cents [1] - Soymeal futures are showing a mixed trend, down 80 cents to 20 cents higher, while soy oil futures are declining, giving back Tuesday's gains with contracts down 120 to 126 points [1] Export Sales Expectations - Weekly export sales data is anticipated to be released, with expectations for soybean sales ranging between 0.4 and 1.5 million metric tons (MMT) for the 2025/26 season [2] - Meal sales are projected to be between 0 and 400,000 metric tons, while bean oil business is expected to show net reductions of 5,000 metric tons to sales of 41,000 metric tons [2] Crop Production Estimates - Statistics Canada estimates the canola crop at 20.03 MMT, indicating a 4.1% increase from the previous year, and 0.1 MMT above the August estimate [3] - Soybean production is estimated at 7.134 MMT, reflecting a decrease of 5.7% from the previous year [3]