Soybeans are trading 28 to 35 cents higher on Monday morning. Futures closed with front month losses of ½ to 5 ½ cents, as back months were 1 ½ to 4 ¼ cents lower. August managed to hold on for just a tick loss last week, with November down 8 ½ cents. Open interest was up just 1,018 contracts. There was just 1 delivery issued against July futures on Thursday, with 0 for July meal and bean oil. The cmdtyView national average Cash Bean price was up 3 1/4 cents at $10.89 1/2. Soymeal futures were $1.10 higher to 40 cents lower on the day, as August was up $1.30 last week, with Soy Oil futures mixed from 10 points higher to 14 points lower, as August was down 305 points last week.
The 7-day forecast shows rainfall totals of 1 to 3 inches across parts of the Dakotas and MN, mainly in the next couple days. Eastern Corn Belt totals are a half inch to 2 inches in the next week. Temps for the next couple weeks are looking at above normal temps.
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USDA released their weekly Export Sales report on Thursday showing just 41,786 MT of old crop bean sales in the week of 6/25. That was a marketing year low for the 2025/26 marketing year. China was the buyer of 65,400 MT, with 68,000 switched from unknown destinations. New crop sales were just 182,533 MT. That was a 3-week low but still 16.89% above the same week last year. Mexico was the main buyer of 182,100 MT.
Soybean meal sales totaled 413,635 MT, which was on the high end of the estimated 100,000 to 500,000 MT, with 239,147 MT for the current marketing year and 174,488 MT for 2026/27. Bean oil business was reported at a net cancellation of 1,517 MT, shy of the expected range of 0 to 13,000 MT.
Brazilian trade ministry data showed 14.5 MMT of soybeans shipped in June, well above the 13.42 MMT in the same month last year.
Jul 26 Soybeans closed at $11.31 3/4, up 5 1/2 cents, currently up 28 1/4 cents
Nearby Cash was $10.89 1/2, up 3 1/4 cents,
Aug 26 Soybeans closed at $11.36 1/4, up 3 cents, currently up 32 3/4 cents
Nov 26 Soybeans closed at $11.47 3/4, down 1 1/2 cents, currently up 35 cents
New Crop Cash was $10.88, up 2 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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- Corn and Soybean Bulls Are Limping into the Critical Growing Month of July. Weather’s Not on Their Side.
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