Soybeans are trading with mixed action so far as contracts are own 1 ¼ cents to 1 ½ cents. Futures posted gains of 4 to 9 ¼ cents across the board on Wednesday. Open interest was down 3,529 contracts on Wednesday, mainly in the July (-19,674). The cmdtyView national average Cash Bean price was up 10 1/2 cents at $10.68 1/2. Soymeal futures were down $1.40 to $1 higher on the day, with Soy Oil futures 33 to 55 points higher.
USDA will update the weekly Export Sales data shortly, with estimates of 2025/26 bean sales at 150,000 to 400,000 MT in the week of 6/4. New crop is seen in a range of 100,000 to 350,000 MT. Soymeal sales are expected between 150,000 and 600,000 MT for this and next marketing year combined. Bean oil sales are estimated to total from net reductions of 2,000 MT to net sales of 15,000 MT.
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WASDE data will be out later this morning, with traders surveyed by Bloomberg looking for a steady report, with an average trade estimate of 339 mbu for old crop bean carryout, vs. 340 mbu in May. New crop is estimated at 310 mbu, unchanged if realized.
On the world side, Brazilian production is expected to mostly be steady, with an average guess of 180.3 MMT, and Argentina up 0.5 MMT to 48.5 MMT. CONAB data showed a 0.12 MMT increase to 2025/26 Brazilian soybean production to 180.25 MMT. The Rosario Grains Exchange estimates the Argentina corn crop at 51.5 MMT, up 1.5 MMT from their previous number.
Jul 26 Soybeans closed at $11.23, up 9 1/4 cents, currently down 1 1/4 cents
Nearby Cash was $10.68 1/2, up 10 1/2 cents,
Aug 26 Soybeans closed at $11.27 3/4, up 9 cents, currently down 1/2 cent
Nov 26 Soybeans closed at $11.38 1/2, up 6 1/2 cents, currently up 1 1/2 cents
New Crop Cash was $10.73 3/4, up 6 1/2 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.
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