Soybeans Popping Off Early Lows at Midday
Soybeans are showing slight losses on Friday’s midday, as they bounce off the early lows. March expires at the close. The cmdtyView national average Cash Bean price is down 1/4 cent at $11.52 1/4. Soymeal futures are up $1 to $3 at midday, with Soy Oil futures are steady to 3 points higher. Crude oil is bouncing off early lows and up $1.19 at midday.
USDA Export Sales data has soybean export commitments at 36.49 MMT by 3/5, a 19% drop from the same period last year. That is now 85% of USDA’s estimate for 2025/26 and behind the 93% average sales pace. Shipments are 27.15 MMT, and now 63% of that USDA number and behind the 79% average pace.
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US Treasury Secretary Bessent and Chinese counterparts meet this weekend in Paris to prep for the meeting between President Trump and President Xi later this month.
NOPA data will be out on Monday, with traders looking for the February crush total at 202.73 mbu. Soybean oil stock are seen at 1.928 billion lbs.
Brazil’s soybean crop estimate was trimmed by just 0.13 MMT to 177.85 MMT according to the latest CONAB estimate.
May 26 Soybeans are at $12.26 3/4, down 1/2 cent,
Nearby Cash is at $11.52 1/4, down 1/4 cent,
Jul 26 Soybeans are at $12.39 1/2, down 1/2 cent,
Aug 26 Soybeans are at $12.20 1/4, down 1 cent,
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.
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