Soybean Extending Strength to Thursday Morning
Soybeans are down 1 to 3 ¼ cents in the front months on Thursday. The cmdtyView national average Cash Bean price is 3 cents lower at $9.9. Soymeal futures are up $3.40 to $3.70/ton, with Soy Oil futures 30 to 35 points lower.
USDA reported a private export sale of 192,350 MT of soybeans to unknown destinations this morning.
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Export Sales data will be released on Friday morning, with traders looking for between 1.5-3 MMT in soybean sales in the week of 1/15. Daily announcements last week accumulated 1.403 MMT. Soybean meal sales are estimated between 200,000 and 500,000 MT in that week, with soybean oil seen 5,000-25,000 MT.
Brazil’s soybean crush estimate from ABIOVE is up 2.5 MMT from last year at 61 MMT, as they estimate the country’s crop at 177.12 MMT. The group also estimates Brazilian 2026 exports at 111.5 MMT, up 3.3 MMT from last year.
Mar 26 Soybeans are at $10.61 1/4, down 3 1/4 cents,
Nearby Cash is at $9.91, down 3 cents,
May 26 Soybeans are at $10.73 1/4, down 1 3/4 cents,
Jul 26 Soybeans are at $10.86, down 1 1/4 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.
