Soybeans were up 7 ½ to 11 cents at the Wednesday close. The cmdtyView national average Cash Bean price was up 8 3/4 cents $11.55 1/2. Soymeal futures were $1.50 to $3.70 higher at the close, with Soy Oil futures 16 to 52 points higher.
Export Sales data will be out on Tuesday morning, with analysts surveyed by Reuters looking for 100,000 to 500,000 MT of 2025/26 soybean sales in the week of 7/9. New crop business is estimated to total 0.9-1.7 MMT in that week. Soybean meal sales are pegged in a range of 150,000 MT to 650,000 MT, with bean oil bookings between new cancellations of 10,000 MT to net sales of 16,000 MT.
The next 7 days are remaining dry for much of the Western Corn Belt according to NOAA’s 7-day QPF, with just trace amounts in parts of MN, IA, NE, MO, and the Dakotas. The Eastern Corn Belt is a little wetter, with 0.5-1.5 inches expected in parts of IL, IN, and OH.
NOPA data from this morning came in well above the average trade guess of 203.99 mbu, at 214.34 mbu crushed during June. That is up 15.69% from a year ago and 2.66% larger than in May. Bean oil stocks were tallied at 1.5 billion lbs, below the trade idea of 1.653 billion lbs. That was down 13.51% from the end of May but up 8.42% from a year ago.
Aug 26 Soybeans closed at $12.01, up 8 1/4 cents,
Nearby Cash was $11.55 1/2, up 8 3/4 cents,
Sep 26 Soybeans closed at $11.91 3/4, up 10 1/2 cents,
Nov 26 Soybeans closed at $12.01 3/4, up 10 3/4 cents,
New Crop Cash was $11.37 3/4, up 11 1/4 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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