Soybeans saw modest strength on Wednesday, with contracts closing fractionally to 3 cents higher on the day. The cmdtyView national average Cash Bean price was up 3 1/4 cents at $11.64. Soymeal futures were the supportive product, up $4.40 to $10.10, with Soy Oil futures falling into the close, down 27 to 104 points.
President Trump landed in Beijing this morning as he is expected to meet with China’s President Xi over the next couple days, with trade likely at the top of the lists for topics of conversation. They are expected to meet at 10 AM local time, or 9:00 pm CDT this evening.
The weekly Export Sales report will be out on Thursday, as analysts are looking for 2025/26 sales at 100,000 to 500,000 MT, with new crop business in a range of 0-100,000 MT. Soybean meal is seen at 150,000-500,000 MT, with bean oil between net reductions of 2,000 to net sale of 12,000 MT.
NOPA data will be released on Friday, with traders looking for 214.03 mbu of soybeans crushed in April. Soybean oil stocks are seen at 1.954 billion lbs.
The Rosario Grains Exchange estimates the Argentina corn crop at 50 MMT, a 2 MMT increase from their previous number. CONAB will be out with their Brazilian soybean production update on Thursday.
Jul 26 Soybeans closed at $12.29, up 2 1/4 cents,
Nearby Cash was $11.64 1/1, up 3 1/4 cents,
Aug 26 Soybeans closed at $12.23 1/2, up 1 3/4 cents,
Sep 26 Soybeans closed at $12.03 1/2, up 1 3/4 cents,
New Crop Cash was $11.47 3/4, up 2 3/4 cents,
