Soybean Jul '24 (ZSN24)
Soybean Futures Market News and Commentary
Soybeans are showing 1 to 5 cent losses on Thursday, led by the front months at midday. The cmdtyView national average Cash Bean price is down 5 1/4 cents at $10.96. Soymeal futures are up 90 cents to $1.00 on the day, with Soy Oil futures down 42 to 54 points in the front months.Â
USDA’s weekly Export Sales report from Thursday showed 364,633 MT of old crop bean sales in the week of April 16, in the middle of trade ideas of 200,000 to 600,000 MT. That was a 4-week high and 72.64% above the same week last year. Sales for 2025/26 were just 5,000 MT, vs. estimates of 0-100,000 MT.Â
Meal sales were tallied at 162,339 MT, which was on the lower side of the expected 150,000 to 500,000 MT. Bean oil sales were tallied at 1,526 MT, which was within the estimated net reductions of 10,000 MT to sales of 14,000 MT.
International Grains Council data indicated world soybean production down 1 MMT for 2026/27, with use up 2 MMT and ending stocks estimated at 79 MMT, down 4 MMT. Read more
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