Soybeans fell 20 to 27 cents across most contracts on Thursday, as product values added some pressure. The cmdtyView national average Cash Bean price was down 24 1/2 cents at $10.70. Soymeal futures were $3.20 to $7.10 in the red, with Soy Oil futures 123 to 242 points lower. Crude oil losses of $3.11 added some pressure.
Export Sales data from this morning pegged old crop business at 276,852 MT, a 3-week low but still 42.45% above the same week last year. China was the largest buyer of 74,800 MT, with 67,400 MT sold to Mexico and 53,700 MT to Indonesia. Sales for 2026/27 were tallied at 243,000 MT. Unknown destinations was the largest buyer of 132,000 MT, with 68,000 MT sold to Costa Rica.
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Bean meal sales were seen at 231,752 MT, edging into the estimates of between 200,000 to 600,000 MT. Bean oil were just 27 MT in sales, falling in the middle of the estimated net reductions of 5,000 MT to 16,000 MT in net sales.
Forecasts are shifting east, with portions of the ECB getting some precip over the next 7 days.
Soybean exports out of Brazil totaled 14.825 MMT in May according to trade ministry data, up from the 14.099 MMT from the year prior. Argentina’s soybean crop is estimated at 91.7% harvested according to the Buenos Aires Grain Exchange, with the crop estimate left at 50.1 MMT.
Jul 26 Soybeans closed at $11.29 1/2, down 24 1/2 cents,
Nearby Cash was $10.70, down 24 1/2 cents,
Aug 26 Soybeans closed at $11.32 1/2, down 25 3/4 cents,
Nov 26 Soybeans closed at $11.41 1/2, down 25 3/4 cents,
New Crop Cash was $10.76 1/1, down 25 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. This article was originally published on Barchart.com
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