Soybeans are rallying 18 to 20 cents across most contracts at midday. The cmdtyView national average Cash Bean price is up 19 cents at $12.70. Soymeal futures are trading with $5.30 gains, as Soy Oil is rallying 116 points. There were again no deliveries for September soybeans, with 39 issued for September meal and 1 for bean oil. September futures expire on Monday.
USDA reported private export sale announcements of 272,000 MT of soybeans to China for 2026/27 and 206,500 MT of 2026/27 beans to unknown destinations this morning. Weekly Export Sales data will be out on Friday morning.
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The USDA will update their data on Friday, with traders surveyed by Bloomberg looking for yield to be trimmed by 0.3 bpa to 52.4 bpa on average. Production is estimated to be down 27 mbu to 4.492 bbu. Old crop stocks are seen dropping 5 mbu to 320 mbu, as new crop US carryout is expected to be down 29 mbu to 291 mbu.
The Rosario Grains Exchange estimates the Argentina soybean crop at 47.8 MMT for 2026/27, down 0.2 MMT from the previous estimate. The Buenos Aires Grains Exchange estimates the crop will see a 1.2% increase in acreage to 17 million hectares (42 million acres).
Sep 26 Soybeans are at $13.18 1/4, up 23 cents,
Nearby Cash is at $12.70 1/1, up 19 cents,
Nov 26 Soybeans are at $13.28 1/2, up 19 cents,
Jan 27 Soybeans are at $13.43 3/4, up 18 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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