Soybeans are trading near unchanged so far on Friday morning, as contracts are fractionally mixed. Futures posted 8 to 10 cent gains across most contracts on Thursday. Open interest was up 3,056 contracts. The cmdtyView national average Cash Bean price was 10 3/4 cents higher at $9.82. Soymeal futures were down $2.20 to $5 at midday, as Soy Oil futures were rallying 122 to 199 points.
The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
Export Sales data from USDA, showed the third largest sales for the marketing year of 2.06 MMT in the week of January 8, exceeding estimates. That was the largest in 4 weeks and more than 4 times larger than the same week last year. China was the top buyer of 1.224 MMT, with Egypt buying 273,200 MT and 191,000 MT sold to Mexico. Sales for 2026/27 were 10,000 MT. Known sales to China, including the announced daily sales this week, have totaled 8.8 MMT.
Soybean meal sales were tallied at 340,579 MT, which was on the high end of 150,000-400,000 MT estimates. Bean oil sales were 14,113 MT, in the middle of 0-26,000 MT trade expectations.
NOPA from Thursday showed 224.991 million bushels of soybeans crushed among members in December, just above trade estimates. That was 8.9% above December 2023 and 4.14% larger than in November. Soybean oil stocks were up 8.5% from the end of November and 32.8% larger yr/yr to 1.642 billion lbs.
According to a Reuters report, the EPA is expected to finalize the RVOs for 2026 by early March with a range for biodiesel of 5.2-5.6 billion gallons, shy of the 5.61 billion proposed back in June. They are also expected to remove language that penalizes imported feedstocks with just half of RIN values.
Mar 26 Soybeans closed at $10.53, up 10 1/2 cents, currently down 1/4 cent
Nearby Cash was $9.82, up 10 3/4 cents,
May 26 Soybeans closed at $10.64 1/4, up 9 1/4 cents, currently unch
Jul 26 Soybeans closed at $10.76 1/4, up 8 cents, currently up 1/4 cent
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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