Soybeans are showing 3 to 7 ½ cent gains on Thursday morning. Contracts were weak early on Wednesday but shrugged off the losses to close with 6 to 7 ¼ cent front month gains. New buying interest was noted, with open interest up 10,684 contracts. There were no new reported for November futures overnight. The cmdtyView national average Cash Bean price was 6 ¾ cents higher at $10.60. Soymeal futures were up $5.10 to $5.30 in the nearbys on the day, with Soy Oil futures 51 to 53 points lower.
Ending stocks via the monthly WASDE report are expected to total 304 mbu in this Friday’s delayed release, vs. the 300 mbu from September.
The market is gauging the export demand, with the lack of Export Sales reports and China yet to confirm the 12 MMT in commitments that was announced in late October.
CONAB estimates the 2025/26 soybean crop at 177.6 MMT in Brazil, down 0.07 MMT from theor previous number.
Nov 25 Soybeans closed at $11.20 1/2, up 7 1/4 cents, currently up 5 3/4 cents
Nearby Cash was $10.60 1/1, up 6 3/4 cents,
Jan 26 Soybeans closed at $11.33 3/4, up 6 1/2 cents, currently up 7 1/2 cents
Mar 26 Soybeans closed at $11.44, up 6 cents, currently up 7 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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