Soybeans are trading with 10 to 11 cents in the nearby contracts early on Thursday/ Futures posted gains of 1 to 4 3/4 cents to close out Wednesday. Open interest was up just 1,840 contracts. The cmdtyView national average Cash Bean price was up 2 cents at $10.58 1/4. Soymeal futures were $1.00 to $2.20 higher on the day, with Soy Oil futures slipping 15 to 36 points on the day.
The average close for November futures in February has been $10.93. Last year’s base spring price for crop insurance was $10.54.
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USDA will release Export Sales data on Thursday morning with traders looking for between 0.3-1.1 MMT in old crop soybean sales in the week of February 5. Sales for 2026/27 are 0-100,000 MT. Soybean meal sales are estimated to total 200,000-450,000 MT, with bean oil between net reductions of 10,000 MT and sales of 16,000 MT.
The Rosario Grains Exchange estimates the Argentina soybean crop at 48 MMT, up 1 MMT from their previous number. CONAB data from this morning showed Brazi’s soybean crop estimated at 177.98 MMT, a 1.86 MMT increase from the previous number.
Mar 26 Soybeans closed at $11.24, up 1 1/2 cents, currently up 10 1/2 cents
Nearby Cash was $10.58 1/4, up 2 cents,
May 26 Soybeans closed at $11.39 1/2, up 2 cents, currently up 10 cents
Jul 26 Soybeans closed at $11.52 1/2, up 3 cents, currently up 10 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
