On Wednesday, May 26, soybean futures experienced a decline, with nearby contracts dropping by 4 to 11 ¼ cents. The cmdtyView national average cash bean price fell to $11.01 ¼, a decrease of 9 ½ cents. Additionally, soymeal futures decreased by $2.90 to $4.90, while soy oil futures saw a drop between 23 to 65 points in front months.
The USDA is expected to release its weekly Export Sales report on Thursday, anticipating old crop bean sales between 200,000 to 600,000 MT for the week of April 16. Meal sales are projected at 150,000 to 500,000 MT, with bean oil sales estimated between a net reduction of 10,000 MT to sales of 14,000 MT. In Brazil, April exports are estimated at 16.4 MMT, down by 0.27 MMT from the previous week.
