Soybeans posted 8 to 10 cent gains across most contracts on Thursday. The cmdtyView national average Cash Bean price was 10 3/4 cents higher at $9.82. Soymeal futures were down $2.20 to $5 at midday, as Soy Oil futures were rallying 122 to 199 points.
USDA reported several private export sales this morning of 435,000 MT of soybeans during the reporting period to unknown destinations (360,000 MT for 2025/26 and 75,000 MT for 26/27). There were additional sales of 110,000 MT sold to unknown, and 204,000 MT to China.
Export Sales data from USDA, showed the third largest sales for the marketing year of 2.06 MMT in the week of January 8, exceeding estimates. That was the largest in 4 weeks and more than 4 times larger than the same week last year. China was the top buyer of 1.224 MMT, with Egypt buying 273,200 MT and 191,000 MT sold to Mexico. Sales for 2026/27 were 10,000 MT.
Soybean meal sales were tallied at 340,579 MT, which was on the high end of 150,000-400,000 MT estimates. Bean oil sales were 14,113 MT, in the middle of 0-26,000 MT trade expectations.
NOPA from this morning showed 224.991 million bushels of soybeans crushed among members in December, just above trade estimates. That was 8.9% above December 2023 and 4.14% larger than in November. Soybean oil stocks were up 8.5% from the end of November and 32.8% larger yr/yr to 1.642 billion lbs.
According to a Reuters report, the EPA is expected to finalize the RVOs for 2026 by early March with a range for biodiesel of 5.2-5.6 billion gallons, shy of the 5.61 billion proposed back in June. They are also expected to remove language that penalizes imported feedstocks with just half of RIN values.
Brazil soybean production is estimated at 176.12 MMT according to CONAB, which was a 1 MMT cut from their December projection. AgroConsult had different ideas, taking their estimate 4.1 MMT higher to 182.2 MMT.
Mar 26 Soybeans closed at $10.53, up 10 1/2 cents,
Nearby Cash was $9.82, up 10 3/4 cents,
May 26 Soybeans closed at $10.64 1/4, up 9 1/4 cents,
Jul 26 Soybeans closed at $10.76 1/4, up 8 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. For more information please view the Barchart Disclosure Policy here.
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