On Wednesday, May 26, soybean contracts dropped by 10 to 16 ¾ cents, with the cmdtyView national average cash bean price falling 16 ½ cents to $11.27 ½. Soymeal futures decreased by 30 cents, while soybean oil futures declined between 139 and 189 points by the session’s end. In addition, crude oil prices fell by $6.06 amid ongoing US-Iran negotiations aimed at facilitating safe passage through the Strait of Hormuz and potentially ending conflict.
Export sales data due Thursday is anticipated to show soybean sales for the 2025/26 crop year between 200,000 and 500,000 metric tons (MT), with new crop sales expected at 0-100,000 MT. Stats Canada reported canola stocks at the end of March at 9.985 million MT, reflecting a 27.4% increase year-over-year, while bean stocks fell 45.7% to 1.497 million MT.
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