Soybeans posted gains of 1 to 4 3/4 cents to close out Wednesday. The cmdtyView national average Cash Bean price was up 2 cents at $10.58 1/4. Soymeal futures were $1.00 to $2.20 higher on the day, with Soy Oil futures slipping 15 to 36 points on the day.
The average close for November futures in February has been $10.93. Last year’s base spring price for crop insurance was $10.54.
USDA will release Export Sales data on Thursday morning with traders looking for between 0.3-1.1 MMT in old crop soybean sales in the week of February 5. Sales for 2026/27 are 0-100,000 MT. Soybean meal sales are estimated to total 200,000-450,000 MT, with bean oil between net reductions of 10,000 MT and sales of 16,000 MT.
The Rosario Grains Exchange estimates the Argentina soybean crop at 48 MMT, up 1 MMT from their previous number. CONAB data for Brazil should be released on Thursday morning.
Mar 26 Soybeans closed at $11.24, up 1 1/2 cents,
Nearby Cash was $10.58 1/4, up 2 cents,
May 26 Soybeans closed at $11.39 1/2, up 2 cents,
Jul 26 Soybeans closed at $11.52 1/2, up 3 cents,
