Soybeans Reverting Back Higher on Wednesday AM Trade

Market Overview - Soybean prices have increased by 3 to 4 cents on Wednesday morning after a decline of 1 to 2 cents on Tuesday [1] - The national average cash bean price remains steady at $9.58 1/4 [1] - Soymeal futures are stable to $1.90 higher, while Soy Oil has decreased by 50 to 66 points [1] Trading Activity - Open interest fell by 17,022 contracts on Tuesday, primarily in November contracts ahead of options expiration on Friday [1] - November soybean futures closed at $10.30 3/4, down 1 cent, but are currently up 3 3/4 cents [3] - Nearby cash prices are at $9.58 1/4, unchanged [3] Export and Import Data - ANEC estimates Brazilian soybean exports for October at 7.34 million metric tons (MMT), an increase of 0.03 MMT from previous estimates [3] - The European Commission reports EU soybean imports since July 1 at 3.51 MMT as of October 19, which is 0.35 MMT lower than last year [3] Crop Insurance - The average close for November soybean futures for harvest price discovery is $10.18 [3]