Soymeal futures are 30 to 50 cents higher

Today Markets UAEFebruary 3, 2026

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Soybeans are showing 5 to 6 cent losses at Monday’s midday. The cmdtyView national average Cash Bean price is 4 1/4 cents lower at $9.93 1/4. Soymeal futures are 30 to 50 cents higher, with Soy Oil futures are down 52 points

USDA’s FGIS tallied soybean export shipments at 1.31 MMT (48.15 mbu) during the week ending on January 29. That was 1.9% below the week prior but 14.9% above the same week last year. China was the top destination of 740,004 MT, with 137,596 MT headed to Mexico and 121,059 MT to Egypt. Marketing year exports for 2025/26 are 21.99 MMT (808 mbu) since September 1, which is now 35.7% below the same period last year and has closed the gap since early January by nearly 10 percentage points.

Just prior to midday, President Trump issued a Truth Social post that a call with India’s President Modi went well with the US lowering tariffs on the country from 25% to 18% and India agreeing to buy over $500 billion of US energy, technology, agricultural, coal and other products. India has historically been a top 5 buyer of US bean oil and was the top buyer in 2025.

CFTC Commitment of Traders data showed spec funds in soybean futures and options adding 7,261 contracts to their net long soybean futures and options as of January 27. They too that net position to a net long of 17,321 contracts,

USDA should release crush data later today, with traders looking for 230.4 mbu of soybeans crushed during December.

Brazil’s soybean crop is estimated at 10% harvested as of Thursday according to AgRural. StoneX estimates the Brazilian soybean crop at 181.6 MMT, a 4 MMT increase from their previous projection. The Celeres forecast was up 4.1 MMT to 181.3 MMT/

Mar 26 Soybeans are at $10.59, down 5 1/4 cents,

Nearby Cash is at $9.93 1/4, down 4 1/4 cents,

May 26 Soybeans are at $10.71 1/2, down 5 1/2 cents,

Jul 26 Soybeans are at $10.84 1/2, down 6 cents,