Soybeans are up 2 cents across most nearby contracts on Thursday morning. Futures were in rally mode on Wednesday, with the $10 area holding. Contracts were up 18 to 19 cents at the close. Preliminary open interest showed new buying interest, up 8,888 contracts. The cmdtyView national average Cash Bean price is up 19 cents at $9.75 1/4. Soymeal futures were up $2.20/ton, as Soy Oil was 20 to 24 points higher.
USDA reported an export sale for 2025/26 marketing year under the daily reporting system on Wednesday morning. Private exporters reported 120,000 MT of US soybeans sold to “unknown” destinations.
Analysts expect to see between 200,000 and 600,000 MT of 2024/25 soybean business in the week ending on July 10. New crop export sales are seen at 400,000-900,000 MT. Meal export sales are expected to total between 200,000 MT and 700,000 for the two marketings years. Bean oil business is seen 0 to 23,000 MT.
Chinese importers are estimating July soybean arrivals there to hit about 10.5 MMT from all origins, up from 9.85 MMT a year ago.
Aug 25 Soybeans closed at $10.13 1/2, up 18 1/2 cents, currently up 2 cents
Nearby Cash was $9.75 1/4, up 19 cents,
Sep 25 Soybeans closed at $10.05 3/4, up 18 1/2 cents, currently up 2cents
Jan 26 Soybeans closed at $10.37, up 18 cents, currently up 2cents
New Crop Cash was $9.72 1/4, up 19 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.
