Bean Market Surges: Key Data and Upcoming USDA Report

The bean market is trading with contracts increasing by 10 to 14 cents as of Wednesday. The cmdtyView Cash Bean price has risen 11 3/4 cents, reaching $10.15 1/4. Additionally, soymeal futures have increased by $1.40 per ton, while soy oil futures are up 63 points.

Upcoming USDA Export Sales Report

The USDA will publish its weekly Export Sales report on Thursday morning. Analysts anticipate seeing old crop soybean sales ranging from 100,000 to 300,000 metric tons (MT). Expected sales for the 2025/26 crop year are projected between 90,000 MT and 400,000 MT. Soybean meal sales are estimated to fall between 100,000 MT and 450,000 MT, with bean oil anticipated to range from 0 to 32,000 MT.

Argentina’s Export Tax Update

Argentina’s export tax reduction on soybeans, currently at 26%, will expire at the end of June. The rate will revert to 33% on July 1, with the product tax climbing to 31%, as revealed in a release from the Economic Ministry on Tuesday.

Current Prices for Soybeans

Jul 25 Soybeans are now priced at $10.64 3/4, showing an increase of 11 3/4 cents.

Nearby Cash stands at $10.15 1/4, also up 11 3/4 cents.

Aug 25 Soybeans are priced at $10.61, up 10 3/4 cents.

Nov 25 Soybeans are currently at $10.54 1/2, reflecting an increase of 13 1/2 cents.

New Crop Cash is at $9.92 1/2, up 13 1/2 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data herein are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views and opinions expressed here reflect those of the author and do not necessarily represent those of Nasdaq, Inc.