Soybeans are trading 1 to 2 cents lower early on Thursday morning, with August up 2 cents. Futures saw losses of 2 to 3 ½ cents across most contracts on Wednesday, with deferreds fractionally mixed. Preliminary open interest was down 14,512 contracts on Wednesday, suggesting some longs were coming out. The cmdtyView national average Cash Bean price was down 4 3/4 cents at $11.29 3/4. Soymeal futures were down $1.30 to $2.80, with Soy Oil 22 to 48 points lower. There was just 1 delivery issued against August beans overnight. For the products, there were 15 deliveries for August soy meal and 41 for bean oil.
USDA will release their weekly Export Sales report this morning with analysts estimating sales of 100,000-400,000 MT for 2025/26 in the week of 7/30. New crop business are seen at 0.9-1.55 MMT in that week. Soybean meal is seen in a range of 200,000 to 500,000 MT, with bean oil expected to be between net cancellations of 10,000 MT to sales of 10,000 MT.
The NOAA 7-day QPF shows rains across much of IA, MO, IL, IN, WI, MI, and OH over the next week with totals nearing 1 to up to 4 inches in some locations.
China’s Sinograin had another auction of imported soybeans, with 334,000 MT of the 501,000 MT sold at an average of $594.84/MT
Aug 26 Soybeans closed at $11.51 1/2, down 3 1/2 cents, currently up 2 cents
Nearby Cash was $11.29 3/4, down 4 3/4 cents,
Sep 26 Soybeans closed at $11.56 1/2, down 2 1/4 cents, currently down 1 1/4 cents
Nov 26 Soybeans closed at $11.74 3/4, down 3 cents, currently down 1 1/4 cents
New Crop Cash was $11.13 1/4, down 3 1/2 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.