Soybeans posted gains of 1 to 4 3/4 cents at the close Wednesday. cmdtyView’s national average Cash Bean price rose 2 cents to $10.58 1/4. Soybean meal futures rose between $1.00 and $2.20 during the day, and soybean oil futures fell between 15 and 36 points during the day.
The average close of November futures in February has been $10.93. Last year’s spring base price for crop insurance was $10.54.
The USDA will release export sales data on Thursday morning and traders expect between 0.3 and 1.1 million tons in old crop soybean sales in the week of February 5. Sales for 2026/27 are 0 to 100,000 tonnes. Soybean meal sales are estimated to total between 200,000 and 450,000 MT, with net bean oil reductions of 10,000 MT and sales of 16,000 MT.
The Rosario Grain Exchange estimates Argentina’s soybean harvest at 48 MMT, 1 MMT more than the previous figure. CONAB data for Brazil should be published on Thursday morning.
March 26 Soybeans closed at $11.24, up 1.5 cents.
The cash close was $10.58 1/4, up 2 cents.
On May 26, soybeans closed at $11.39 1/2, 2 cents higher.
July 26 Soybeans closed at $11.52 1/2, 3 cents higher.
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com