Soybean bulls are showing some slight strength on Friday morning, with gains of 2 to 5 cents so far. The soybean market headed lower on Thursday after spending much of the session in the green, with contracts down 1 to 4 cents at the close. The cmdtyView national front month Cash Bean price was down 2 1/2 cents at $9.66. Soymeal futures were down $2.50/ton on the day, with Soy Oil futures 22 points in the red. There were no deliveries issued against March soybeans overnight. There were 641 deliveries issued for March bean meal, with 792 bean oil deliveries. President Trump plants to implement an additional 10% tariff on China starting next week.
Friday’s close in November soybean futures will set the base crop insurance price for this year, with the average so far this month at $10.55, a dollar below where the total was last year.Â
Thursday’s Export Sales report showed 410,878 MT in 2024/25 soybean sales in the week that ended on February 20. That was down 14.4% from the week prior, but still well above the same week last year. Export commitments for soybeans are now at 44.147 MMT, which is 89% of the USDA forecast total for the marketing year and on par with the average sales pace. New crop sales were tallied at 3,620 MT.Â
Soybean meal sales were pegged at just 176,472 MT, with bean oil bookings were tallied at 18,363 MT.
Argentina’s soybean crop was estimated at 24% excellent by to the Buenos Aires Grain Exchange, up 7% from last week. The normal category was down 6% (all shifting to excellent), with the poor ratings down 1% to 34%.Â
Mar 25 Soybeans  closed at $10.22 3/4, down 1 3/4 cents, currently up 2 1/2 cents
Nearby Cash  was $9.66, down 2 1/2 cents,
May 25 Soybeans  closed at $10.37 1/4, down 4 cents, currently up 4 3/4 cents
Nov 25 Soybeans  closed at $10.41 3/4, down 3 3/4 cents, currently up 2 3/4 cents
New Crop Cash  was $9.76 1/2, down 4 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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