Soybean futures are trading 8 to 9 cents higher early Thursday, following a weaker session on Wednesday where contracts fell 3 to 7 ¼ cents. Open interest increased by 16,832 contracts on Wednesday, primarily in July contracts (+10,803). As of the latest data, the cmdtyView national average cash price for soybeans stands at $12.51, down 6 ¼ cents.
The USDA announced the private export sale of 340,000 metric tons of soybeans to China for the 2026/27 crop year, along with 100,000 MT to unknown destinations. The USDA will provide updated yield estimates on Friday, with Bloomberg’s survey predicting a reduction of 0.3 bushels per acre, bringing the average to 52.4 bushels per acre, and a decrease in production by 27 million bushels to 4.492 billion bushels.
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