Soybeans were down 1 to 2 cents across the front months on Thursday. The cmdtyView national average Cash Bean price was down 1 cent at $10.84 3/4.  Soymeal futures are $1.20 to $2.20 in the front months, with Soy Oil futures up another 91 to 109 points in the nearbys. The average close for November soybean futures has been $11.08 so far in February, up 54 cents from the total last year, with Friday being the last day for price discovery for the spring soybean crop insurance price.

The EPA sent its 2026 biofuel mandates to the White House OMB late on Wednesday for review. Reports also indicate that the EPA is looking to shift half of previously waived biofuel obligations under the small refinery exemptions to larger oil refineries. 

Early session weakness was noted due to a report that the meeting between President Trump and China’s president Xi may focus more on optics than actual progress in the trade talks.

USDA’s Export Sales report for the week of February 19 was out this morning, showing 407,086 MT. That was back down from last week but just 0.92% below the same week in 2025. The largest buyer was Egypt at 225,800 MT, with 127,000 MT sold to Germany and just 75,500 MT to China. 

Soybean meal sales were tallied at 269,590 MT, sneaking in the estimates of 250,000 to 500,000 MT, with another 30,000 MT sold for 2026/27. Soybean oil sales were just 1,473 MT, which was in the middle of the estimated net reductions of 10,000 to sales of 16,000 MT, as net reductions of 3,950 were reported for 2026/27.

Mar 26 Soybeans  closed at $11.47 3/4, down 1/2 cent,

Nearby Cash  was $10.84 3/4, down 1 cent,

May 26 Soybeans  closed at $11.63 1/2, down 1 1/2 cents,

Jul 26 Soybeans  closed at $11.76 1/4, down 1 1/4 cents,

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