Soybeans are showing Friday AM gains of 2 to 3 cents in the front months. Futures settled Thursday with slightly mixed action. Open interest was up 9,270 on Thursday. The cmdtyView national average Cash Bean price was steady at $9.94. Soymeal futures were up 60 cents to $4.80/ton, with Soy Oil futures 11 to 23 points lower.
USDA reported a private export sale of 192,350 MT of soybeans to unknown destinations on Thursday
Export Sales data will be released shortly, with traders looking for between 1.5-3 MMT in soybean sales in the week of 1/15. Daily announcements last week accumulated 1.403 MMT. Soybean meal sales are estimated between 200,000 and 500,000 MT in that week, with soybean oil seen 5,000-25,000 MT.
Brazil’s soybean crush estimate from ABIOVE is up 2.5 MMT from last year at 61 MMT, as they estimate the country’s crop at 177.12 MMT. The group also estimates Brazilian 2026 exports at 111.5 MMT, up 3.3 MMT from last year.
Mar 26 Soybeans closed at $10.64, down 1/2 cent, currently up 2 1/2 cents
Nearby Cash was $9.94, unch,
May 26 Soybeans closed at $10.76 1/4, up 1 1/4 cents, currently up 2 3/4 cents
Jul 26 Soybeans closed at $10.89, up 1 3/4 cents, currently up 2 3/4 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
