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Soybeans saw losses of 1 to 5 ¼ cents in most contracts on Thursday, as May saw a 4 ¼ cent gain this week. The cmdtyView national average Cash Bean price was down 5 1/2 cents at $10.94. Soymeal futures were down $3.00 to $4.20, as May was down 10 cents on the short week. Soy Oil futures were 100 to 183 points higher, was May was 153 points in the green. Crude Oil was up $11.94 at $112.06, after President Trump’s address the nation on Wednesday night that indicated 2-3 weeks more of strikes and an uncertain fate to the Strait of Hormuz. The market is closed on Friday in observance of Good Friday. The Monday session will have a normal Sunday night open.
USDA Export Sales data showed bean sales at 353,259 MT in the week of 3/26. That was down from last week but 35.51% above the same week last year. China was the top buyer of 141,000 MT, as 134,000 MT was switched from unknown, with 91,400 MT sold to Bangladesh. New crop business came in a 0.
Soybean meal sales were tallied at 377,362 MT, which was in the middle of the trade ideas of 200-500,000 MT, Bean oil sales totaled 1,148 MT in that week, in the middle of the 0-12,000 MT estimates.
Census trade date was released for February this morning, with a total of 4.195 MMT (154.2 mbu) of soybeans shipped. That was up 34.6% from a year ago but down 27.93% from January. Meal exports were shy of the 2024 Feb record at 1.37 MMT, with bean oil at 71,814 MT.
May 26 Soybeans closed at $11.63 1/2, down 5 cents,
Nearby Cash was $10.94, down 5 1/2 cents,
Jul 26 Soybeans closed at $11.80, down 4 1/2 cents,
Nov 26 Soybeans closed at $11.54, down 1 1/2 cents,
New Crop Cash was $10.92 1/1, down 1 3/4 cents,
