Soybeans are bouncing higher on Thursday morning, with 6 to 8 gains. Futures closed the Wednesday session with contracts 2 ¼ to 11 ¾ cents lower across the board, with the front months leading the charge. Open interest was down 2,644 contracts. There were 2 deliveries against November beans overnight. The cmdtyView national average Cash Bean price was down 11 1/2 cents at $11.38. Soymeal futures were mixed, anywhere from 50 cents lower to $1.10 higher, with Soy Oil futures down 100 to 175 points. Heating oil losses of $0.32 added pressure.
USDA reported a private export sale of 167,000 MT of soybeans on Wednesday morning to Spain for the 2026/27 marketing year.
Export Sales data will be published this morning, with traders looking for 0.95-2.5 MMT of 2026/27 soybean sales in the week of 10/29 according to a Reuters survey. New crop sales are seen at 0-50,000 MT. Soybean meal sales are seen in a range of 250,000-500,000 MT, with bean oil estimated at 0-10,000 MT.
US Soybean exports via Census data from September was released on Wednesday, showing 3.655 MMT (134.3 mbu) in shipments. That was well above August, 22.93% above last year and a 6-year high. Soybean meal exports were a record 1334 MMT.
Brazil’s November exports of soybeans are seen at 3.33 MMT, according to ANEC, which would be 0.9 MMT below last year if realized
Nov 26 Soybeans closed at $11.93 1/4, down 9 3/4 cents, currently up 7 3/4 cents
Nearby Cash was $11.38, down 11 1/2 cents,
Jan 27 Soybeans closed at $12.02 1/4, down 11 3/4 cents, currently up 6 1/2 cents
Mar 27 Soybeans closed at $12.10 1/4, down 10 1/2 cents, currently up 5 3/4 cents
Nov 27 Soybeans closed at $11.88 1/4, down 3 3/4 cents, currently up 4 1/2 cents
New Crop Cash was $11.21, down 2 1/2 cents,
On the date of publication, Austin Schroeder did not directly have a position 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.