Soybean contracts rose by 9 to 11 cents midweek, closing at $11.67 per bushel for May and $11.83 for July on April 9, 2024. The cmdtyView national average cash bean price saw an increase of 11 cents, settling at $11.01 3/4. Soymeal futures also climbed, with increases ranging from $1.10 to $4.70, while soy oil futures remained steady with a gain of up to 116 points.
Weekly Export Sales data set to be released on Thursday is expected to show old crop soybean sales between 200,000 to 600,000 MT, with new crop sales anticipated at 0 to 100,000 MT. Soybean meal sales are projected to be between 300,000 to 600,000 MT, while bean oil sales might reflect net reductions between 10,000 MT to 14,000 MT.
NOPA reported March crush at 226.16 million bushels, an increase of 8.32% from February and 16.25% from March 2025, though it fell short of estimates. Additionally, soybean oil stocks declined by 1.97% from February to 2.04 billion lbs, remaining 36.11% higher than in the same month last year.
