Soybeans Posting Midday Gains as Meal Rallies

Soybeans are trading with 5 to 7 cent gains so far on Thursday. The cmdtyView national average Cash Bean price is up 5 ¾ ents at $10.93 1/2. Soymeal futures are $11 to $13.20 higher on the day, with Soy Oil futures 6 points lower. 

The weekly Export Sales report from this morning showed just 298,208 MT of old crop bean sales in the week of March 12, below analysts expecting 350,000 to 800,000 MT. That was a MY low and 15.42% below the same week last year. New crop sales were just 6,600 MT, on the low end of the estimated 0 to 100,000 MT. 

Soybean meal sales were tallied at 220,927 MT in the middle of the 150,000-350,000 MT estimates. Soybean oil sales were tallied at 5,241 MT, in the middle of estimates of net reductions of 20,000 MT to net sales of 22,000 MT.

Abiove estimates the Brazilian soybean crop at 177.85 MMT, a 0.73 MMT increase from their previous number.

IGC data from this morning tallied soybean production at 426 MMT for 2025/26, down 2 MMT from last month. Use was down 1 MMT, with stocks slipping 1 MMT to 78 MMT. Output for 2026/27 is seen up 16 MMT yr/yr to 442 MMT, with use up 12 MMT and carryout seen up just 1 MMT to 79 MMT.

May 26 Soybeans  are at $11.67 1/2, up 5 3/4 cents,

Nearby Cash  is at $10.93 1/2, up 5 3/4 cents,

Jul 26 Soybeans  are at $11.82 3/4, up 6 1/4 cents,

Nov 26 Soybeans  are at $11.46 1/2, up 5 cents,

New Crop Cash  is at $10.86 1/1, up 6 3/4 cents,