Soybeans Close Higher on Thursday, Assisted by Meal Strength
Soybean futures saw stronger action into the Thursday close despite a weaker start overnight. Contracts closed with 3 to 5 cent gains as meal gains were supportive. The cmdtyView Cash Bean price was up 5 cents to $10.18 1/5. Soymeal futures were $3.10 to 4.60/ton higher on the day, with Soy Oil futures down 37 to 72 points.
USDA released their weekly Export Sales report this morning, showing 307,939 MT of old crop soybean business for the week of 5/15 exceeding the trade ideas of 100,000 to 300,000 MT. That was back up 9% from the previous week and 10.2% above the same week in 2024. Mexico was the lead buyer of 134,100 MT, with another 43,000 MT sold to unknown. Sales for 2025/26 were tallied at 15,000 MT below estimates of 90,000 MT to 400,000 MT.
Soybean meal sales totaled 382,652 MT, with 359,579 MT for the current MY, which was in line with the 100,000 to 450,000 MT trade estimates. Bean oil sales were tallied at 13,660 MT, in the middle of the expectations of 0 and 32,000 MT.
World soybean production was steady in this month’s International Grains Council report at 428 MT, with consumption up 2 MMT and 2025/26 world stocks trimmed by 2 MMT to 81 MMT.
Jul 25 Soybeans closed at $10.67 1/2, up 4 3/4 cents,
Nearby Cash was $10.18 1/2, up 5 cents,
Aug 25 Soybeans closed at $10.62 1/2, up 3 1/2 cents,
Nov 25 Soybeans closed at $10.55 1/4, up 3 cents,
New Crop Cash was $9.92, up 3 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.