Soybeans Come Back to Close Mixed on Thursday
Soybeans saw mixed trade at Thursday’s close with August down 1 ½ cents and other contracts fractionally to 2 cents higher. The cmdtyView national average new crop Cash Bean price was up 1 1/4 cents at $9.73 1/4. Soymeal futures are back down $1.00 to $2.50/ton. Soy Oil was 37 to 53 points higher.
USDA’s weekly Export Sales report tallied old crop soybean bookings at 160,872 MT in the week ending on 7/17. That was back down 60.8% from last week but up 81.5% from the same week last year. The Netherlands was the top buyer of 116,800 MT, with 67,900 MT sold to Mexico. The new crop total was 238,816 MT, a 4-week low. Unknown destination was the top buyer of 120,000 MT.
Soybean meal was tallied at 182,610 MT for the current MY, with sales for next marketing year at 91,907 MT and the total of 274,517 MT on the low side of the expected 250,000 and 550,000 MT. Bean oil sales were 599 MT in net reductions for 2024/25, with 1,953 MT for 2025/26, on the low side of the 0 to 20,000 MT seen for bean oil.
Aug 25 Soybeans closed at $10.04 1/4, down 1 1/2 cents,
Nearby Cash was $9.70 3/4, up 1/2 cent,
Sep 25 Soybeans closed at $10.05 3/4, up 3/4 cent,
Nov 25 Soybeans closed at $10.24 1/4, up 1 1/2 cents,
New Crop Cash was $9.73 1/4, up 1 1/4 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.