Soybeans are trading with fractional to 2 cent gains in some nearbys on Wednesday, with other slipping lower. Futures are selling some of the ‘fact’ in Chinese buying rumors from this morning. The cmdtyView national average Cash Bean price is 1 1/4 cents higher at $10.12 1/2. Soymeal futures are up $4 to $4.20, with Soy Oil futures slightly lower.
Ahead of the Trump/Xi meeting overnight into Thursday, China has been rumored to purchase at least 180,000 MT of soybeans. We won’t know the exact totals anytime soon due to the government shutdown restricting the FAS weekly Export Sales report and large daily sale announcements.
Despite the limited government data, a Reuters survey of analysts showed exceed soybean sales in the week ending on 10/23 at 0.6-1.6 MMT. Meal sales are seen at 50,000-500,000 T, with 5,000-25,000 MT for bean oil.
Rabobank estimates the 2025/26 Brazilian soybean production to total 177 MMT, with planted acreage up 2% top 48.8 million hectares (120.5 million acres).
Nov 25 Soybeans are at $10.79 1/2, up 1 1/4 cents,
Nearby Cash is at $10.12 1/2, up 1 1/4 cents,
Jan 26 Soybeans are at $10.95, down 1/4 cent,
Mar 26 Soybeans are at $11.06 1/2, down 1/4 cent,
