Soybeans are trading with Thursday gains of 11 to 13 ¼ cent gains. There were 68 deliveries issued against January soybeans as they expired on Wednesday, with the total for the period at 3,397. The cmdtyView national average Cash Bean price is 13 1/4 cents higher at $9.84 1/2. Soymeal futures are down $2 at midday, as Soy Oil futures are rallying 197 to 200 points. There were 11 deliveries against January bean meal overnight, with 3 for soy oil.
USDA reported several private export sales this morning of 435,000 MT of soybeans during the reporting period to unknown destinations (360,000 MT for 2025/26 and 75,000 MT for 26/27). There were additional sales of 110,000 MT sold to unknown, and 204,000 MT to China.
Export Sales data from USDA, showed the third largest sales for the marketing year of 2.06 MMT in the week of January 8, exceeding estimates of between 0.8-1.8 MMT in soybean bookings. That was the largest in 4 weeks and more than 4 times larger than the same week last year. Sales for 2026/27 were 10,000 MT.
Soybean meal sales were tallied at 340,579 MT, which was on the high end of 150,000-400,000 MT estimates. Bean oil sales were 14,113 MT, in the middle of 0-26,000 MT trade expectations.
NOPA from this morning showed 224.991 million bushels of soybeans crushed among members in December, just above trade estimates. That was 8.9% above December 2023 and 4.14% larger than in November. Soybean oil stocks were up 8.5% from the end of November and 32.8% larger yr/yr to 1.642 billion lbs.
According to a Reuters report, the EPA is expected to finalize the RVOs for 2026 by early March with a range for biodiesel of 5.2-5.6 billion gallons, shy of the 5.61 billion proposed back in June. They are also removing language that penalizes imported feedstocks with just half of RIN values.
Brazil soybean production is estimated at 176.12 MMT according to CONAB, which was a 1 MMT cut from their Decembers projection. AgroConsult had different ideas, taking their estimate 4.1 MMT higher to 182.2 MMT.
Mar 26 Soybeans are at $10.55 3/4, up 13 1/4 cents,
Nearby Cash is at $9.84 1/2, up 13 1/4 cents,
May 26 Soybeans are at $10.67 1/4, up 12 1/4 cents,
Jul 26 Soybeans are at $10.79 3/4, up 11 1/2 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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