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Soybeans saw higher trade on Thursday, with contracts up 2 to 3 ½ cents at the close. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $10.49 3/4. Soymeal were mixed, with contracts 30 cents higher to 90 cents lower. Soy Oil futures were steady to 18 points higher.
USDA continued their backlogged update of Export Sales reports this morning, with 1.248 MMT of soybean sold in the week of 10/30. That was in the middle of traders looking for between 0.6-2 MMT. That is still shy of last week by 13.9% and the same week last year by 48.7%. A total of 232,000 MT was sold to China in that week as they make their first appearance.
Soybean meal sales fell to 219,830 MT in that week, on the low side of trade estimate of between 200,000 and 450,000 MT. Soybean oil bookings were tallied at 4,664 MT, shy of the 5,000 to 25,000 MT estimates.
Statistics Canada updated 2025/26 production estimates this morning, with canola estimated at 21.8 MMT, a 1.3.3% increase from last year and 1.8 MMT above the September report. Actual soybean production was seen at 6.79 MMT, down 10.2%.
Brazil exported 4.2 MMT of soybeans in November according to the country’s trade ministry, a 37.62% drop from last month but 64.4% above the same month last year. ANEC estimates December soybean exports out of Brazil at 2.81 MMT, a 1.34 MMT increase from last year if realized.
Jan 26 Soybeans closed at $11.19 1/2, up 3 3/4 cents,
Nearby Cash was $10.49 3/4, up 3 3/4 cents,
Mar 26 Soybeans closed at $11.28 3/4, up 3 1/4 cents,
May 26 Soybeans closed at $11.37 1/4, up 2 1/2 cents,
