Soybeans saw gains of 12 to 14 cents in the front months on Wednesday. The cmdtyView national average Cash Bean price was up 12 cents at $11.39 1/4. Soymeal futures were up 10 to 90 cents, with Soy Oil futures 122 to 175 points higher. There were 200 deliveries issued overnight against March soybean oil. Crude oil is back up another $5.44 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves.
Bean oil gained some strength as EPA’s RVO figure for this year was reportedly leaked near the 5.4 billion gallon level. The figure should be officially announced later this month.
USDA will release Export Sales data on Thursday morning, with traders expecting to see 250,000-800,000 MT of 2025/26 soybeans sold in the week ending on March 3. New crop business is estimated at 0-100,000 MT. Soybean oil is seen at 150,000 to 400,000 MT.
Mar 26 Soybeans closed at $12.00 1/2, up 13 1/4 cents,
Nearby Cash was $11.39 1/4, up 12 cents,
May 26 Soybeans closed at $12.14, up 12 1/4 cents,
Jul 26 Soybeans closed at $12.27 1/4, up 12 1/4 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.
