Soybeans closed Thursday with gains of 7 to 10 cents across most contracts. There were 10 deliveries issued against September soybeans overnight. The cmdtyView national average Cash Bean price is up 9 1/2 cents at $9.57 1/4. Soymeal futures were up $1 to $2.60, with Soy Oil futures 49 to 61 points higher. The CME reported another 96 September soybean meal deliveries issued, with none reported for bean oil.
The weekly Export Sales release from USDA showed 541,055 MT of 2025/26 sales in the week of 9/4. Unknown destinations were the largest buyer of 431,700 MT, with 62,000 MT sold to Taiwan. A total 767,049 MT of unshipped 2024/25 sales were carried over to the new marketing year. Total commitments start out the 2025/26 MY at 9.35 MMT, the lowest going back to the 09/10 MY. There were 67,849 MT of 2024/25 sales reported late to China
Soybean meal sales were in the middle of analysts estimates of 50,000 to 900,000 MT in that week at 357,463 MT, with bean oil at net reductions of 6,421 MT, below expectations of between 0 and 16,000 MT.
NOPA data is out on Monday, with traders looking for August crush among members at 182.857 mbu.
CONAB raised their 2024/25 soybean crop estimates by 1.92 MMT to 171.47 MMT this morning.
Sep 25 Soybeans closed at $10.15 1/4, up 9 3/4 cents,
Nearby Cash was $9.57 1/4, up 9 1/2 cents,
Nov 25 Soybeans closed at $10.33 1/2, up 8 1/4 cents,
Jan 26 Soybeans closed at $10.52 1/2, up 7 3/4 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. This article was originally published on Barchart.com
