Soybean Market Reacts as Front Months Decline and New Crop Edges Up

The soybean market is currently trading with front month contracts down by 1 to 3 cents. In contrast, new crop contracts have seen fractional increases. Latest data shows the cmdtyView Cash Bean price fell by 3.5 cents to $9.98 ½. Additionally, soymeal futures are down $4.10 per ton, while Soy Oil futures decreased by 23 points after experiencing limit losses on Thursday.

USDA Export Sales Data

The USDA’s Export Sales report indicates soybean export bookings reached 48.003 million metric tons (MMT), representing 95% of the World Agricultural Outlook Board’s latest projection. This figure falls slightly short of the 98% average pace typically observed. Actual shipments reported by FAS stand at 43.897 MMT, translating to 87% of the USDA forecast and aligning with expected rates.

Current Soybean Prices

As of now, July 25 Soybeans are priced at $10.48 1/4, down 3 cents. Nearby Cash is at $9.98 1/2, reflecting a decline of 3.5 cents. Meanwhile, August 25 Soybeans are trading at $10.46, down 1 1/4 cents, and January 26 Soybeans are up 1/4 cent at $10.47.

For new crop data, New Crop Cash is currently at $9.73 1/4, up 1 cent.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data presented here are for informational purposes only. For more details, please refer to the Barchart Disclosure Policy
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