Soybeans See Strength on the Midweek Session

Group 1 - The soybean market experienced gains of 4 to 7 ½ cents, with the national average Cash Bean price rising by 8 1/4 cents to $9.53 1/2 [1] - Soymeal futures increased by 30 cents to $1.90 in the front months, while back months remained steady to 60 cents lower [1] - Soy Oil prices rose by 44 to 70 points, with 25 deliveries reported for October bean oil [1] Group 2 - Brazilian soybean exports for October are estimated at 7.12 MMT, significantly higher than the 4.44 MMT during the same period last year [3] - November soybeans have averaged $10.21 through the first six trading sessions of October, which will be used for crop insurance harvest price discovery [1][2] - Despite the suspension of the weekly Export Sales report, traders anticipate soybean sales between 0.6-1.6 MMT for the week of 10/2 [2]