Soybeans Close Wednesday on a Weaker Note

Soybeans faded off the early gains on Wednesday, as buyers of the Chinese rumor were selling the fact. Contracts were down fractionally to 5 ½ cents at the close. The cmdtyView national average Cash Bean price was down 3/4 cent at $11.45 1/4. Soymeal futures were $3.90 to $6.30 lower across most contracts, with Soy Oil futures 205 to 260 points higher as crude oil was up $4.32.

USDA reported a private export sale of 472,000 MT of soybeans to China this morning, with 136,000 MT for 2025/26 and 336,000 MT for 2026/27.

Export Sales data will be out on Thursday, with analysts surveyed by Reuters looking for between 50,000 and 500,000 MT of 2025/26 soybean sales in the week of July 2. Sales for 2026/27 are estimated in a range of 150,000 to 500,000 MT. Soy meal sales are seen at 250,000 to 600,000 MT in total, with bean oil seen between net reductions of 5,000 MT and sales of 10,000 MT.

The next 7 days via NOAA’s QPF shows 1 to 2 inches on a line mainly south of I-80 covering most of MO, IN, OJ and the southern half of IL. Parts of eastern NE and western IA, as well as central WI are seen with up to an inch. 

WASDE data will be updated on Friday, as a Bloomberg survey of traders shows old crop bean stocks down 3 mbu to 337 mbu. New crop stocks are seen up 22 mbu, mainly on an increase to production from the increased acreage from the June Acreage report.

Jul 26 Soybeans  closed at $11.95, down 1 3/4 cents,

Nearby Cash  was $11.45 1/4, down 3/4 cent,

Aug 26 Soybeans  closed at $11.93 1/4, down 1/2 cent,

Nov 26 Soybeans  closed at $11.92 1/4, down 5 1/2 cents,

New Crop Cash  was $11.26 1/1, down 6 1/4 cents,