Soybeans Correct Lower on Thursday Ahead of Friday USDA Reports

Soybeans were down 10 to 15 ¼ cents in the front months, with other contracts fractionallt to 8 cents lower. The cmdtyView national average Cash Bean price was down 14 1/2 cents at $11.31. Soymeal futures were $3.70 to $5.10 higher across most contracts, with Soy Oil futures 90 to 120 points lower. 

USDA reported another private export sale of 136,000 MT of 2026/27 soybeans to China this morning, with 120,000 MT for 2026/27 to unknown destinations.

Export Sales data tallied 2025/26 soybean sales at 54,349 MT in the week of July 2. That was slightly higher than last week’s marketing year low. China was the buyer of 202,100 MT, with 204,000 MT switched from unknown. Sales for 2026/27 were tallied at 408,250 MT, which was the second largest total for the marketing year. Unknown destinations was the buyer of 338,000 MT, with 54,000 MT to Colombia.

Soy meal sales were tallied at 321,513 MT, vs. estimate if 250,000 to 600,000 MT in total, with 225,542 MT for the current marketing year and 95,989 MT for 2026/27. Bean oil sales were at just 878 MT, which was in the middle of the expected range of net reductions of 5,000 MT and sales of 10,000 MT.

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 $11.79 3/4, down 15 1/4 cents,

Nearby Cash  was $11.31, down 14 1/4 cents,

Aug 26 Soybeans  closed at $11.77 3/4, down 15 1/2 cents,

Nov 26 Soybeans  closed at $11.81 1/2, down 10 3/4 cents,

New Crop Cash  was $11.15 1/4, down 10 3/4 cents,