Soybeans saw higher trading Thursday, with contracts up 2 to 3 ½ cents at the close. The national average price for cmdtyView’s Cash Bean was 3 3/4 cents higher at $10.49 3/4. Soybean meal was mixed, with contracts ranging from 30 cents higher to 90 cents lower. Soybean oil futures were flat 18 points higher.
The USDA continued its overdue update of export sales reports this morning, with 1,248 MMT of soybeans sold during the week of 10/30. This was in the middle of traders looking for between 0.6 and 2 MMT. This is still lower than last week of 13.9% and the same week last year of 48.7%. A total of 232,000 tonnes were sold to China that week, as they make their first appearance.
Soybean meal sales fell to 219,830 tonnes that week, at the low end of trade estimates of between 200,000 and 450,000 tonnes. Soybean oil reservations were estimated at 4,664 tonnes, lower than estimates of 5,000 to 25,000 tonnes.
Statistics Canada this morning updated production estimates for 2025/26, with canola estimated at 21.8 MMT, an increase of 1.3.3% from last year and 1.8 MMT more than the September report. Actual soybean production was estimated at 6.79 MMT, down 10.2%.
Brazil exported 4.2 MMT of soybeans in November according to the country’s Commerce Ministry, down 37.62% from last month but 64.4% more than the same month last year. ANEC estimates Brazil’s December soybean exports at 2.81 MMT, an increase of 1.34 MMT from last year if realized.
On January 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,
On March 26, soybeans closed at $11.28 3/4, up 3 1/4 cents,
On May 26, soybeans closed at $11.37 1/4, up 2 1/2 cents,
As of the date of publication, Austin Schroeder had (directly or indirectly) no position in any of the securities mentioned in this article. All information and data contained in this article are for informational purposes only. This article was originally published on Barchart.com
