Soybean May '14 (ZSK14)
Soybean Futures Market News and Commentary
Soybeans closed Thursday with fractional to 8 cent losses. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $10.61 1/2. Soymeal futures were mixed, down $1.00 to $1.80 higher on the day, with Soy Oil futures 65 to 88 points lower.
USDA updated their weekly Export Sales data this morning, showing 2025/26 bean sales at 211,292 MT for the week of 6/4. That was down 23.68% from last week but well above the same week last year. Egypt was the buyer of 67,600 MT, with Japan in for 56,400 MT. New crop sales were 141,500 MT, back down from the week prior by 41.77%. Unknown was the largest buyer of 120,000 MT. Total new crop sales have accumulated to 1.032 MMT, down 7.69% from last year at this time.
Soymeal sales were tallied at 426,138 MT, which was in the middle of the expected range of 150,000 and 600,000 MT. Bean oil sales were 824 MT, falling in the estimated range to total from net reductions of 2,000 MT to net sales of 15,000 MT.Â
WASDE data wa... Read more
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