Soybeans were in rally mode on Wednesday, with contracts closing 10 to 11 cents in the front months. The cmdtyView national average Cash Bean price was 11 1/2 cents higher at $9.94 3/4. Soymeal futures were $3.70 to $6.80 higher, with Soy Oil futures 8 to 18 points lower on the day. There were 88 deliveries issued against January soybeans overnight, with 78 issued for bean oil.
USDA is officially back to a normal Export Sales release schedule, as analysts are expecting to see between 0.75-1.3 MMT of 2025/26 soybeans sold for export in the week of 1/1. Sales for 2026/27 are seen in a 0-300,000 MT range. Soybean meal bookings are estimated to total 100,000-350,000 MT, with 0-30,000 MT seen for soybean oil.
Crop Production data will be released on Monday, with the annual report expected to show the final 2025 soybean yield estimate at 52.7 bpa. Production is pegged at 4.23 bbu according to a Bloomberg survey of analysts.
Jan 26 Soybeans closed at $10.52 3/4, up 10 3/4 cents,
Nearby Cash was $9.94 3/4, up 11 1/2 cents,
Mar 26 Soybeans closed at $10.67, up 10 3/4 cents,
May 26 Soybeans closed at $10.78 3/4, up 10 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. For more information please view the Barchart Disclosure Policy here.
Facebook
Twitter
YouTube