Soybeans collapsed into the lows on Wednesday, as contracts were down 13 to 14 cents across the nearbys. The cmdtyView national average Cash Bean price was down 16 ½ cents at $9.30 ¾. Soymeal futures are continuing their weakness, with contracts down $1.40 to $2.00/ton, with Soy Oil posting gains of 66 to 84 points.
Export Sales data from USDA will be released on Thursday morning, with analysts looking for 100,000 to 300,000 MT in old crop soybeans bookings for the week ending on July 24. New crop sales are estimated to total 100,000 to 600,000 MT. Bean meal bookings are expected to total 200,000 to 550,000 MT between the current and next marketing year, with bean oil seen in a range of 0-23,000 MT.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Brazil’s soybean crop for 2025/26 is estimated at 182.9 MMT according to Datagro, which is up from their 173.5 MMT estimate for 2024/25. Safras & Mercado estimates the 25/26 crop at 179.87 MMT.
Aug 25 Soybeans closed at $9.67 3/4, down 14 cents,
Nearby Cash was at $9.30 3/4, down 16 1/2 cents,
Sep 25 Soybeans closed at $9.75 3/4, down 13 3/4 cents,
Nov 25 Soybeans closed at $9.95 3/4, down 13 3/4 cents,
New Crop Cash was at $9.32 1/2, down 15 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. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
- Corn Bulls Are Bending, Not Breaking: What to Watch in Grain Futures This Week
- Cotton Prices Are Trending Up. How Much Higher Can They Go?
- Left for Dead, Grain Market Bulls Now Have a Pulse
- Soybean Meal Prices Are Rebounding. How Much Higher Can They Go?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
