Soybeans are rebounding from the Thursday weakness with contracts up 6 to 8 cents in most contracts at midday. The cmdtyView national average Cash Bean price is up 7 ½ cents at $11.62 1/2. Soymeal futures are $2.10 to $2.60 lower at midday, while Soy Oil futures were 223 to 235 points higher. Crude oil is back up $3.26/bbl at midday to provide support to the bean oil, with heating oil up $0.0688 to $4.0995/gal.
USDA reported 3 sets of private export sales for new crop this morning, with 340,000 MT to China, 256,634 MT to Mexico, and 110,000 MT to unknown destinations.
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Export Sales data from Thursday has taken the old crop soybean sales total (including shipments and unshipped sales) to 41.324 MMT. That matches the USDA export projection, vs the 101% average of the projection in the last 3 years. Shipmests are 38.18 MMT, which are 92% of the USDA projecting and below the 93% pace from the last 2 years. New crop business came is now at 4.598 MMT.
Safras & Mercado estimates the Brazilian soybean crop at 180.1 MMT for 2026/27, a 1.8 MMT jump from last year if realized.
Aug 26 Soybeans are at $12.01 1/2, up 6 1/2 cents,
Nearby Cash is at $11.62 1/2, up 7 1/2 cents,
Sep 26 Soybeans are at $11.92 1/2, up 7 1/4 cents,
Nov 26 Soybeans are at $12.03, up 8 cents,
New Crop Cash is at $11.42 1/4, up 8 1/4 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.