Soybeans saw Thursday gains of as little as ¼ cent to 7 cents in some new crop months. The cmdtyView national average Cash Bean price was up 3 1/2 cents at $9.72. Soymeal futures were up $2.10 to $2.50/ton, as Soy Oil was 23 points higher.
Weekly Export Sales data from this morning indicated 503,027 MT of soybean sales in the week of July, within trade ideas of 300,000 to 600,000 MT. That was the largest total since mid-March and more than triple the same week last year. Unknown destinations was the buyer of 114,400 MT, with 88,600 MT sold to Egypt. New crop business was also in the range of 50,000 to 400,000 MT estimates at 248,400 MT. That was the second highest total for the marketing year.
Soybean meal sales totaled 578,528 MT, within the trade expected range of 125,000 to 950,000 MT in that week, as 207,688 MT was for the current MY and 370,840 MT for 2025/26. Bean oil sales total just 3,994 MT on the low side of the 0 to 30,000 MT.
CONAB trimmed back their 2024/25 soybean production estimate for Brazil by 0.12 MMT to 169.48 MMT. With the USDA update on Friday, traders are looking for a slight increase to the Brazilian soybean output, up 0.4 MMT to 169.4 MMT.
Jul 25 Soybeans closed at $10.12 1/2, up 1/4 cent,
Nearby Cash was $9.72 1/1, up 3 1/2 cents,
Aug 25 Soybeans closed at $10.12 1/2, up 3 1/2 cents,
Nov 25 Soybeans closed at $10.13 3/4, up 6 1/2 cents,
New Crop Cash was $9.64 1/2, up 6 1/4 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.
