Soybeans are trading with 3 to 7 cent gains across the front months on Wednesday morning. Futures rounded out the Tuesday session with contracts fractionally to 1 ¼ cents higher. Open interest suggested new buying interest, up 22,504 contracts on Tuesday. The cmdtyView national average Cash Bean price was up 1 1/4 cents at $10.68 1/2. Soymeal futures were a dime to $3.40 lower in the front months, with Soy Oil futures 21 to 44 points higher. The latter is up another 100 points this morning. Strength in the bean oil side was from a report that the EPA is expected to send the 2026 biofuel blending quotas to the White House for review this week.
NOPA data was released this morning, with a total of 221.56 mbu of soybeans crushed in January, exceeding estimates. That was 10.57% above last year, but down 1.52% from last month. Soybean oil stocks rose 15.6% over last month and 49.07% above last year.
Export Inspections data showed soybean shipments at 1.203 MMT (44.2 mbu) shipped in the week that ended on February 12. That was up 5.01% from the week prior, and 65.3% above the same week last year. China was the top destination of 684,069 MT, with 223,890 MT to Egypt and 81,455 MT to Colombia. Marketing year shipments have totaled 24.35 MMT (894.7 mbu), which is down 32.4% yr/yr.
Mar 26 Soybeans closed at $11.34, up 1 cent, currently up 6 1/2 cents
Nearby Cash was $10.68 1/2, up 1 1/4 cents,
May 26 Soybeans closed at $11.48 3/4, up 1/4 cent, currently up 6 1/2 cents
Jul 26 Soybeans closed at $11.61 3/4, up 1 1/4 cents, currently up 6 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.
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