Soybeans saw increased trading on Thursday, with contracts rising between 2 and 3 ½ cents at the close. cmdtyView’s national average Cash Bean price was 3 3/4 cents higher at $10.49 3/4. Soybean meal was mixed, with contracts between 30 cents higher and 90 cents lower. Soybean oil futures were steady up 18 points.
The USDA continued its delayed update of export sales reports this morning, with 1.248 million tons of soybeans sold in the week of 10/30. That was amid traders looking for between 0.6 and 2 million tons. That’s still down from last week by 13.9% and the same week last year by 48.7%. A total of 232,000 MT was sold to China that week in its first appearance.
Soybean meal sales fell to 219,830 MT that week, below the trade estimate of between 200,000 and 450,000 MT. Soybean oil reserves totaled 4,664 MT, below estimates of 5,000 to 25,000 MT.
Statistics Canada updated production estimates for 2025/26 this morning, with a canola estimate of 21.8 million tonnes, up 1.3.3% from last year and 1.8 million tonnes higher than the September report. Actual soybean production was estimated at 6.79 million tons, 10.2% less.
Brazil exported 4.2 million tons of soybeans in November according to the country’s Ministry of Commerce, a drop of 37.62% compared to last month but 64.4% more than the same month last year. ANEC estimates that Brazil’s soybean exports in December will be 2.81 million tons, an increase of 1.34 million tons over last year if they come to fruition.
On Jan. 26, soybeans closed at $11.19 1/2, up 3 3/4 cents.
Nearby cash was $10.49 3/4, up 3 3/4 cents,
March 26 Soybeans closed at $11.28 3/4, up 3 1/4 cents.
On May 26, soybeans closed at 11.37 1/4 dollars, 2 1/2 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