Soybean Market Steady as Export Sales Report Anticipated
Soybean prices showed little movement on Thursday morning, with contracts fluctuating between an increase of 1 ½ cents and a decrease of ½ cent. This comes after beans experienced gains of 2 to 4 cents across most contracts on Wednesday. According to CmdtyView, the national front month Cash Bean price rose by 3 cents, reaching $9.87 3/4. Soymeal futures also saw positive movement, closing with gains between $2.40 and $3.30 per ton, while Soy Oil futures increased by 15 to 24 points. The CME will observe Good Friday with no trading on Friday, but a normal close on Thursday and a Sunday night open are expected.
Export Sales Report Expected from USDA
The USDA plans to release its Export Sales report this morning. Analysts are predicting that soybean exports for the week ending April 10 will range from 100,000 to 800,000 metric tons (MT) for the old crop. Additionally, sales for the 2025/26 crop year are estimated to fall between 0 and 150,000 MT. Expectations for soybean meal sales are set between 145,000 and 450,000 MT, while bean oil sales are projected to be in the range of 0 to 50,000 MT.
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Current Soybean Pricing
As of the latest reports, May 25 Soybeans closed at $10.38 3/4, up 2 3/4 cents, and are currently up by 1 1/4 cents. Nearby Cash prices are at $9.87 3/4, marking a 3-cent increase. Meanwhile, Jul 25 Soybeans closed at $10.50 1/4, ending up by 3 3/4 cents, but currently reflect a small gain of 1/2 cent. Lastly, Nov 25 Soybeans closed at $10.34 1/4, rising by 4 1/2 cents, although they are currently down by 1/2 cent. New Crop Cash stands at $9.73 3/4, with a rise of 4 3/4 cents.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
