Soybean prices dropped on Thursday, with contracts declining by 6 to 9 ¾ cents. The cmdtyView national average cash bean price is now $10.70 per bushel, down 9 cents. Soymeal futures fell by $4.90 to $5.10, and soy oil futures decreased by 205 to 215 points. Trading will conclude today, as markets are closed on Friday in observance of Juneteenth.
The USDA reported two private export sales: 132,000 metric tons (MT) to China and 120,000 MT to an unknown destination, both for the 2026/27 marketing year. On Wednesday, an additional 372,000 MT was reported, comprising 60,000 MT of old crop and 312,000 MT of new crop beans. Total export sales week of June 11 reached 424,869 MT, exceeding trade estimates and marking a 12-week high, though still 11.71% lower than the same week last year.
New crop sales for this week were reported at 304,083 MT, the highest for the 2026/27 marketing year, while soybean meal sales totaled 404,114 MT, falling within the expected range. Bean oil bookings were at 2,231 MT, contrary to trade expectations of potential cancellations.
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