As of midday Friday, soybean prices are experiencing slight losses, with cash bean prices at $11.52 1/4, down 1/4 cent. March soybean futures are set to expire at market close. Soymeal futures have increased between $1 and $3, while soy oil futures remained steady to 3 points higher. Crude oil rose by $1.19 at midday, bouncing off early lows.
According to USDA Export Sales data released on March 5, soybean export commitments stand at 36.49 MMT, representing a 19% decline from the same period last year, accounting for 85% of the USDA’s estimate for the 2025/26 cycle. Soybean shipments are recorded at 27.15 MMT, or 63% of the USDA target, lagging behind the 79% average pace.
In Brazil, the soybean crop estimate has been slightly decreased by 0.13 MMT to 177.85 MMT, based on the latest updates from CONAB. NOPA data is expected to be released on Monday, with a February crush total forecast at 202.73 million bushels and soybean oil stocks anticipated at 1.928 billion lbs.
