Soybeans are trading with front months rising by 2 to 3 cents, while deferred contracts are experiencing minor losses. The cmdtyView national average cash bean price increased by 2.5 cents to $11.00 3/4. Soymeal futures rose by $1.50 to $2.60, and soy oil futures climbed by 25 to 35 points.
According to the USDA’s weekly Export Sales report released on Thursday, total soybean commitments stand at 38.52 million metric tons (MMT), marking an 18% decline compared to the same week last year. This figure represents 92% of the USDA’s export forecast and is 4 percentage points lower than the 5-year average.
