Soybeans experienced declines on Wednesday, with losses ranging from 2 to 3.5 cents across most contracts. The cmdtyView national average cash bean price fell by 4.75 cents to $11.29. Soymeal futures decreased by $1.30 to $2.80, while soy oil dipped by 22 to 48 points.
The USDA is set to release its weekly Export Sales report on Thursday, with analysts predicting soybean sales between 100,000 to 400,000 metric tons for the 2025/26 marketing year for the week ending July 30. New crop business is estimated at 0.9 to 1.55 million metric tons, with soybean meal ranging from 200,000 to 500,000 metric tons and bean oil expected to see net cancellations or sales between 10,000 metric tons to 10,000 metric tons.
In related developments, China’s Sinograin auctioned 501,000 metric tons of imported soybeans, of which 334,000 metric tons were sold at an average price of $594.84 per metric ton.
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