On Thursday, soybean prices declined by 1 to 5 ¼ cents, with the cmdtyView national average Cash Bean price falling to $10.94, a decrease of 5 ½ cents. Soymeal futures dropped between $3.00 and $4.20, while Soy Oil futures increased by 100 to 183 points. Crude Oil prices rose significantly by $11.94, reaching $112.06 after President Trump’s recent address about ongoing military actions in the Strait of Hormuz. The market will be closed on Friday for Good Friday.
According to USDA Export Sales data for the week of March 26, bean sales totaled 353,259 metric tons (MT), down from the previous week but 35.51% higher compared to the same week last year. China was the leading buyer, purchasing 141,000 MT, with additional sales to Bangladesh totaling 91,400 MT. Soybean meal sales were reported at 377,362 MT, while bean oil sales reached 1,148 MT.
Census trade data for February indicated that a total of 4.195 million metric tons (MMT) of soybeans were shipped, reflecting a 34.6% increase from last year but a 27.93% decrease from January.
