Soybean Extending Strength to Thursday Morning

Soybeans are down 1 to 3 ¼ cents in the front months on Thursday. The cmdtyView national average Cash Bean price is 3 cents lower at $9.9. Soymeal futures are up $3.40 to $3.70/ton, with Soy Oil futures 30 to 35 points lower. 

USDA reported a private export sale of 192,350 MT of soybeans to unknown destinations this morning.

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Export Sales data will be released on Friday morning, with traders looking for between 1.5-3 MMT in soybean sales in the week of 1/15. Daily announcements last week accumulated 1.403 MMT. Soybean meal sales are estimated between 200,000 and 500,000 MT in that week, with soybean oil seen 5,000-25,000 MT.

Brazil’s soybean crush estimate from ABIOVE is up 2.5 MMT from last year at 61 MMT, as they estimate the country’s crop at 177.12 MMT. The group also estimates Brazilian 2026 exports at 111.5 MMT, up 3.3 MMT from last year. 

Mar 26 Soybeans  are at $10.61 1/4, down 3 1/4 cents,

Nearby Cash  is at $9.91, down 3 cents,

May 26 Soybeans  are at $10.73 1/4, down 1 3/4 cents,

Jul 26 Soybeans  are at $10.86, down 1 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.