Soybean Market Update: Mixed Results and Key Trade Talks

The soybean market experienced mixed trading results on Wednesday. Front-month futures declined by 2 to 5 cents, while new crop futures increased 2 to 4 cents. The cmdtyView Cash Bean price fell by 1 ¾ cents to $9.87. In related markets, soymeal futures rose $1.90 to $2.80 per ton, while soy oil futures decreased by 64 to 103 points.

On Tuesday, representatives from China and the U.S. agreed to meet in Geneva on Saturday. This meeting will involve Treasury Secretary Bessent, USTR Greer, and Chinese Vice Premier He Lifeng. Discussions are expected to concentrate on reducing export controls and broader tariffs.

Export Projections and Market Expectations

Analysts project soybean export bookings for the week ending May 1 to range from 200,000 to 500,000 metric tons (MT). New crop sales are anticipated to be between 0 and 150,000 MT. Meal sales are predicted to fall between 200,000 and 400,000 MT, with bean oil expected to face net reductions of 5,000 MT or sales of 20,000 MT.

Ahead of the Monday WASDE release, analysts surveyed by Reuters expect the World Ag Outlook Board to raise the U.S. soybean yield to 52.5 bushels per acre (bpa). Total production is projected at 4.338 billion bushels.

Brazilian Soybean Exports on the Rise

Brazil’s trade ministry reported that the country exported a total of 15.271 million metric tons (MMT) of soybeans during April, marking a 4.03% increase from the previous month and a 3.97% rise compared to the same period last year. ANEC estimates that May exports will total approximately 12.6 MMT.

Current Soybean Prices

May 25 Soybeans closed at $10.30 ½, down 4 ¼ cents. Nearby Cash sat at $9.87, down 1 ¾ cents. July 25 Soybeans ended at $10.39 ¼, down 2 cents, while Nov 25 Soybeans closed at $10.22, up 2 ¾ cents. New Crop Cash was reported at $9.59 ½, up 2 ½ 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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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