Soybeans are falling with 6 to 9 cent losses across most contracts on Wednesday. The cmdtyView national average Cash Bean price is down 9 cents at $10.97 3/4. Soymeal futures are $2.30 to $4 lower, with Soy Oil futures 60 to 80 points higher.
As Wall Street Journal report stated that USDA Secretary Vaden said he expects China to honor their commitment to buy 25 MMT of US soybeans this year and stated that they have already started placing orders. USDA’s Export Sales dat shows no new crop sales to China, with just 317,000 in 2026/27 sales for unknown destinations.
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Export Sales data will be released on Thursday, with old crop business expected to be in a range of 100,000-500,000 MT. Sales for 2026/27 are seen at 60,000 to 300,000 MT. Bean meal sales are seen between 200,000 to 600,000 MT, bean oil expected between net reductions of 5,000 MT to 16,000 MT in net sales.
The 7-day forecast from NOAA shows 1-2 inches across much of the Central/Western Corn Belt in the next week, mainly ahead of the weekend. The Eastern Corn Belt in central IL to OH shows very little precip.
Jul 26 Soybeans are at $11.56 1/2, down 8 3/4 cents,
Nearby Cash is at $10.97 3/4, down 9 cents,
Aug 26 Soybeans are at $11.60 3/4, down 8 1/4 cents,
Nov 26 Soybeans are at $11.71 1/4, down 6 1/2 cents,
New Crop Cash is at $11.05 1/2, down 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.