Soybean contracts declined by 1 to 4.75 cents on Thursday, closing the session with the cmdtyView national average Cash Bean price at $10.97 1/4, down 4 cents. Soymeal futures experienced mixed results, while Soy Oil futures increased between 5 and 34 points, although May contracts dipped by 2 points.
According to the USDA’s Export Sales report released on Thursday, old crop soybean sales reached 364,633 metric tons for the week ending April 16, marking a 4-week high and an increase of 72.64% compared to the same week last year. Egypt emerged as the top buyer, purchasing 93,600 metric tons, with Japan acquiring 78,700 metric tons. Meal sales totaled 162,339 metric tons, falling short of the expected range, and bean oil sales were recorded at 1,526 metric tons.
International Grains Council data projected a decrease in world soybean production for 2026/27 by 1 million metric tons, while usage is expected to rise by 2 million metric tons, resulting in estimated ending stocks of 79 million metric tons, down 4 million metric tons.
