Soybean

Soybeans are down 2 to 3 cents early on Thursday Futures 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. Open interest was up 1,047 contracts on the day. 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. There were no deliveries issued against July meal, with 59 issued for July bean oil.

USDA reported a private export sale of 472,000 MT of soybeans to China on Wednesday 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 IN, OH and the southern half of IL, as well as much of MO. Parts of NE, the Dakotas, MN, IA, and WI remain relatively dry.

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, currently up 2 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, currently down 3 1/2 cents

Nov 26 Soybeans  closed at $11.92 1/4, down 5 1/2 cents, currently down 2 3/4 cents 

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