On Wednesday, soybean prices saw gains from 4.75 to 10.25 cents across front months, driven by new crop expectations and a soybean/corn ratio approaching 2.33. The cmdtyView national average cash bean price increased by 5 cents to $10.87 3/4. Meanwhile, soybean meal futures rose between $4.00 and $10.00, while soybean oil futures experienced a downturn of up to 44 points.
The USDA reported a private export sale of 120,000 metric tons of soybean meal for the 2026/27 marketing year. Barchart analysts expect the upcoming weekly Export Sales report, to be released on Thursday, to reveal old crop sales between 350,000 and 800,000 metric tons for the week ending March 12, with new crop sales anticipated at 0 to 100,000 metric tons.
The Allendale survey estimates soybean planted acres will reach 85.66 million, an increase of 4.46 million acres year-over-year. The USDA’s March Intentions report is scheduled for release on March 31.
