Soybeans are trading with 20 to 27 cent losses early on Thursday morning. Futures saw modest strength on Wednesday, with contracts closing fractionally to 3 cents higher on the day. Open interest was up 14,129 contracts on Wednesday. The cmdtyView national average Cash Bean price was up 3 1/4 cents at $11.64. Soymeal futures were the supportive product, up $4.40 to $10.10, with Soy Oil futures falling into the close, down 27 to 104 points. There were 80 deliveries issued against May meal futures overnight, with 41 issued against May beans. May futures expire today.
A meeting between President Trump and China’s President Xi in Beijing concluded early this morning. Few details were released following the meeting, though Secretary Bessent stated that “soybeans are all taken care of.”
The weekly Export Sales report will be out shortly, as analysts are looking for 2025/26 sales at 100,000 to 500,000 MT, with new crop business in a range of 0-100,000 MT. Soybean meal is seen at 150,000-500,000 MT, with bean oil between net reductions of 2,000 to net sale of 12,000 MT.
NOPA data will be released on Friday, with traders looking for 214.03 mbu of soybeans crushed in April. Soybean oil stocks are seen at 1.954 billion lbs.
The Rosario Grains Exchange estimates the Argentina corn crop at 50 MMT, a 2 MMT increase from their previous number. CONAB will be out with their Brazilian soybean production update on Thursday.
Jul 26 Soybeans closed at $12.29, up 2 1/4 cents, currently down 18 cents
Nearby Cash was $11.64 1/1, up 3 1/4 cents,
Aug 26 Soybeans closed at $12.23 1/2, up 1 3/4 cents, currently down 27 cents
Sep 26 Soybeans closed at $12.03 1/2, up 1 3/4 cents, currently down 21 cents
New Crop Cash was $11.47 3/4, 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.
