Soybeans posted gains of 3 to 9 ½ cents across most contracts, led by the front months on Wednesday. The cmdtyView national average Cash Bean price was up 15 1/4 cents at $10.85 1/4. Soymeal futures were steady to $1.90 higher, with Soy Oil futures mixed from 28 points higher to 24 points lower.
USDA will release their weekly Export Sales report on Thursday, as a Reuters survey shows analysts looking for between 300,000 and 650,000 MT of 2025/26 soybeans sold in the week of 6/25. New crop sales are seen in a range of 350,000 and 900,000 MT. Soybean meal sale are estimated to total 100,000 to 500,000 MT, with bean oil business in a range of 0 to 13,000 MT.
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Fats & Oils data from NASS showed a total of 213.1 mbu of soybeans crushed during May, which was belp trade ideas of 214.9 mbu. That was 2.02% below last month and 4.62% larger yr/yr.
NASS reported 85.36 million soybean acres planted this spring in their June Acreage report, coming in slightly above estimates and 665,000 acres higher than in the March Prospective Plantings report. Double crop acres ticked up to 7%, from 6% last year and 4% in each of the prior 4 years. June 1 soybean stocks were up to 1.061 bbu in the quarterly Grain Stocks report. That was 5.26% above the same period last year. The March 1 stocks were revised higher by 19 mbu.
Jul 26 Soybeans closed at $11.26 1/4, up 9 1/2 cents,
Nearby Cash was $10.85 1/4, up 15 1/4 cents,
Aug 26 Soybeans closed at $11.33 1/4, up 9 cents,
Nov 26 Soybeans closed at $11.49 1/4, up 5 1/2 cents,
New Crop Cash was $10.85 1/4, up 7 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.
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