Soybean prices saw declines on Wednesday, with contracts dropping 9 to 11.25 cents. The cmdtyView national average cash bean price decreased by 10.5 cents, landing at $11.36. Soymeal futures fell by $1.70 to $2, while soy oil futures were lower by 70 to 90 points. Market pressures were intensified by a $6.27 drop in crude oil, amidst ongoing US-Iran negotiations.
The USDA is expected to release export sales data on Thursday, with projections estimating soybean sales between 150,000 MT and 450,000 MT for 2025/26. New crop sales could range from 0-200,000 MT. Brazilian soybean exports for 2026 are estimated by Abiove at 114.1 MMT, with crush expected at 62.5 MMT and stocks at 8.25 MMT.
In April, China imported a total of 3.33 MMT of soybeans from the US, contributing to 8.48 MMT of total imports, including 4.75 MMT from Brazil.
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