Soybeans are down 5 to 6 cents so far on Thursday morning. The soybean market saw gains of 4 to 7 ½ cents on Wednesday, led by the front months. Daily open interest data hinted at new buying interest, up 19,222 contracts on the higher price action. The cmdtyView national average Cash Bean price was 8 1/4 cents higher at $9.53 1/2. Soymeal futures were 30 cents to $1.90 higher in the front months .with back months steady to 60 cents lower. There were another 61 deliveries against October meal overnight. Soy Oil were up 44 to 70 points on the day. The CBOT reported 11 deliveries for October bean oil overnight. November soybeans have averaged $10.21 so far through the 6 trade sessions in October, with the full month’s average used in the harvest price discovery for crop insurance.
Despite the weekly Export Sales report being suspended with the government offline, traders are still expecting 0.6-1.6 MMT of 2025/26 soybean sales in the week of 10/2. Meal bookings were seen at 150,000-350,000, with 0-25,000 MT for oil.
Brazilian soybean exports are estimated at 7.12 MMT during October, which is well above the 4.44 MMT in the same period last year.
Nov 25 Soybeans closed at $10.29 1/2, up 7 1/2 cents, currently down 5 1/2 cents
Nearby Cash was $9.53 1/2, up 8 1/4 cents,
Jan 26 Soybeans closed at $10.44 1/4, up 5 1/4 cents, currently down 5 1/4 cents
Mar 26 Soybeans closed at $10.57 1/4, up 4 1/4 cents, currently down 5 cents
