Soybean futures increased by 2 cents on Thursday morning, with significant gains on Wednesday as contracts closed up 18 to 19 cents, holding around the $10 mark. Preliminary data indicated a surge in open interest, rising by 8,888 contracts. The cmdtyView national average cash bean price also rose by 19 cents to $9.75 1/4, while soymeal futures increased by $2.20 per ton. Soy Oil saw a rise of 20 to 24 points.
On Wednesday, the USDA reported an export sale of 120,000 metric tons (MT) of US soybeans for the 2025/26 marketing year to “unknown” destinations. Analysts anticipate between 200,000 and 600,000 MT of total soybean business for the week ending July 10, with new crop export sales projected at 400,000 to 900,000 MT. Chinese importers expect July soybean arrivals to reach approximately 10.5 million metric tons, up from 9.85 million MT a year earlier.
