Soybeans closed with 4 ¼ to 12 cent losses across most contracts on Wednesday. The cmdtyView national average Cash Bean price was down 9 1/4 cents at $11.37 3/4. Soymeal futures were down a dime to $1.40 on the day, with Soy Oil futures 32 to 78 points lower. Crude oil losses of $5.07 is adding pressure as US and Iran negotiations are reportedly in the nearing the finish line.
Export sales data will be published by USDA on Thursday, as analysts are estimated to total 150,000 MT to 450,000 MT for 2025/26. New crop sales are seen at 0-200,000 MT. Soybean meal is expected at 200,000 to 600,000 MT, with bean oil in a range of net reductions of 5,000 MT to sales of 12,000 MT.
Abiove estimates the 2026 Brazilian soybean export total at 114.1 MMT, up 0.5 MMT from their previous number, with crush expected at 62.5 MMT, up 0.3 MMT. Soybean stocks are estimated at 8.25 MMT, up 1.49 MMT.
Chinese import data showed a total of 3.33 MMT of soybeans imported from the US in April with total imports in April up 8.48 MMT and 4.75 MMT from Brazil.
Jul 26 Soybeans closed at $11.99 3/4, down 9 3/4 cents,
Nearby Cash was $11.37 3/4, down 9 1/4 cents,
Aug 26 Soybeans closed at $11.99 1/4, down 10 1/2 cents,
Nov 26 Soybeans closed at $11.93 1/2, down 9 1/2 cents,
New Crop Cash was $11.32, down 9 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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