Soybean Oil Jan '24 (ZLF24)

Soybeans are up 1 to 3 cents in the front months on Thursday, with near crop down 1 to 2 cents. There were 30 deliveries against July soybeans overnight. The cmdtyView national average Cash Bean price is up 2 cents at $10.87 1/4. Soymeal futures are steady to $1.20 higher, with Soy Oil futures mixed from 48 points higher to 31 points lower. There were no new deliveries issued against July soybean meal overnight, with another 169 deliveries against July soybean oil. The market will observe the July 4th Independence Day Holiday on Friday, for a 3-day weekend. Sunday night will be a normal open. 

USDA released their weekly Export Sales report this morning showing just 41,786 MT of old crop bean sales in the week of 6/25, which was shy of analysts looking for between 300,000 and 650,000 MT. That was a marketing year low for the 2025/26 marketing year. New crop sales were also shy of estimates of 350,000 and 900,000 MT at just 182,533 MT. That was a 3-week low but still 16.89% abov... Read more