Soybean contracts experienced modest declines on Thursday, with prices falling by 3/4 cent to as low as $11.77 1/4 per bushel. The cmdtyView national average cash price rose 2 ¾ cents to $11.49. Soymeal futures dropped between 40 cents and $1.20, while soy oil futures fell by 17 to 82 points. Notably, the USDA reported a private export sale of 132,000 metric tons of soybeans to China for the 2026/27 season.
In the week of July 23, USDA Export Sales data indicated old crop soybean sales of 302,260 metric tons, marking a 5-week high and a 10.49% increase from the previous year. New crop sales totaled 1.333 million metric tons, slightly below the previous weeks but still above last year, with China purchasing 519,000 metric tons. Conversely, soybean meal sales were only 114,733 metric tons, falling short of analyst estimates. Conversely, bean oil sales faced a net cancellation of 1,099 metric tons.
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