Soybean Pit May '20 (SK20)

Soybeans posted 8 to 10 cent gains across most contracts on Thursday. The cmdtyView national average Cash Bean price was 10 3/4 cents higher at $9.82. Soymeal futures were down $2.20 to $5 at midday, as Soy Oil futures were rallying 122 to 199 points. 

USDA reported several private export sales this morning of 435,000 MT of soybeans during the reporting period to unknown destinations (360,000 MT for 2025/26 and 75,000 MT for 26/27). There were additional sales of 110,000 MT sold to unknown, and 204,000 MT to China.

Export Sales data from USDA, showed the third largest sales for the marketing year of 2.06 MMT in the week of January 8, exceeding estimates. That was the largest in 4 weeks and more than 4 times larger than the same week last year. China was the top buyer of 1.224 MMT, with Egypt buying 273,200 MT and 191,000 MT sold to Mexico. Sales for 2026/27 were 10,000 MT.

Soybean meal sales were tallied at 340,579 MT, which was on the high end of 150,000-400,000 M... Read more