Soybeans are starting of the USDA report day with 5 to 6 cent gains. Futures slipped off the midday highs on Friday with contracts up 1 to 1 ½ ents in the front months at the close. March was up 16 3/4 cents on the week. Open interest was up 10,054 contracts, mostly in March and July. The cmdtyView national average Cash Bean price was 1 1/2 cents higher at $9.90 3/4. Soymeal futures closed Friday with January down 40 cents and other contracts up a dime to $1.80, as March was up $7.70 last week. Soy Oil futures were 15 to 23 points higher on the day, as March was 39 points higher on the week. There were 33 deliveries issued against soybeans on Friday night, with 2 for January bean meal.
A private export sale of 198,000 MT of soybeans were sold to unknown destinations on Friday according to the USDA. Wire sources indicated that China bought another 10 cargoes of US beans for April – May shipment on Friday.
Crop Production data will be released later this morning, 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. WASDE data will is expected to tally the 2025/26 soybean ending stocks number at 295 mbu, a 5 mbu increase mo/mo.
Quarterly Grain Stocks data is estimated to tally 3.25 bbu of soybean stocks on December 1 expected according to a Reuters survey of analysts. The range of estimates is 2.95 to 3.445 bbu.
Commitment of Traders data indicated spec traders cutting back 26,845 contracts from their soybean net long in the week ending on January 6. That net long was tallied at an 11-week low of 57,717 contracts of futures and options.
AgRural estimates the Brazilian soybean crop at 0.6% harvested by last Thursday, slightly above the 0.3% pace to start last year
Jan 26 Soybeans closed at $10.48 1/2, up 1 1/2 cents, currently up 1/2 cent
Nearby Cash was $9.90 3/4, up 1 1/2 cents,
Mar 26 Soybeans closed at $10.62 1/2, up 1 1/4 cents, currently up 5 1/4 cents
May 26 Soybeans closed at $10.74 1/2, up 1 1/4 cents, currently up 5 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.
