Soybeans are pushing the fresh 2 year highs further at midday, with gains of 5 to 8 cents at midday. The cmdtyView national average Cash Bean price is up 5 cents at $12.05 1/2. Soymeal futures were $1.30 to $2.00 higher, with Soy Oil futures up 2 to 7 points.
USDA reported a private export sale of 126,000 MT of soybeans to unknown destinations this morning for 2026/27.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.Weekly Export Sales data from USDA showed bookings of 56,351 MT, in the week of 7/16, within analysts ideas of net cancellations of 200,000 MT to sales of 400,000 MT. That was the third lowest for the marketing year but normal as we approach the end of July. Sales for 2026/27 were tallied at 1.537 MMT, vs. estimates of between 1-1.8 MMT. That was the second largest for the marketing year forward sales, and nearly triple the same week last year.
Meal sales totaled 591,179 MT, which exceeded the trade ideas of 100,000 to 575,000 MT, with most of that for 2026/27 at 406,130 MT and 185,049 MT set for the current marketing year. Bean oil sales were tallied at 635 MT, which was between estimate of net reductions of 10,000 MT to sales of 10,000 MT.
Rabobank estimate the Brazilian soybean crop to be down 4 MMT from the year prior in 2026/27 to 178 MMT.
Aug 26 Soybeans are at $12.38, up 5 cents,
Nearby Cash is at $12.05 1/2, up 5 cents,
Sep 26 Soybeans are at $12.33 1/4, up 7 1/4 cents,
Nov 26 Soybeans are at $12.46 3/4, up 7 3/4 cents,
New Crop Cash is at $11.88 1/2, 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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