Soybeans experienced gains of 3 to 5 cents on Thursday, with the cmdtyView national average cash bean price rising 2 cents to $10.14 1/2. Soymeal futures increased by $1.10, while soy oil dropped by 24 points. The market will be closed on Friday for the July 4th holiday.
The USDA reported private export sales of 226,000 MT of old crop soybeans and 195,000 MT of soybean meal on Thursday morning. Additionally, export sales for the week of June 26 included 462,435 MT of 2024/25 soybeans, exceeding the trade forecasts, with Mexico being the top buyer at 131,600 MT.
Census data revealed that May soybean exports totaled 1.6 MMT (58.6 million bushels), a decrease of 26.81% from April but an increase of 13.13% from the previous year. Soybean meal exports for May reached a record 1.36 MMT, and bean oil shipments were the highest for May in five years at 142,303 MT.
