Soybean Prices Rise Slightly Amid Export Activity

USDA Reports New Export Sales for Soybeans

Soybeans finished Wednesday with contract prices up to 5 ¾ cents higher across the board. The average close for November soybean futures in October stands at $10.11, which is $1.44 below the February base insurance price. CmdtyView’s national front month Cash Bean price climbed by 6 1/4 cents, reaching $9.41 ¼. Soymeal futures increased by $2.70 per ton, while Soy Oil contracts declined between 6 to 30 points.

This morning, the USDA reported private export sales of 259,000 MT of soybeans to unknown destinations and 130,000 MT to China, both scheduled for shipment in 2024/25.

On Thursday morning, the USDA will publish its weekly Export Sales report. Expectations for 2024/25 soybean sales are anticipated to range from 1.2 to 2.4 MMT, with projections for 0 to 100,000 MT in the 2025/26 marketing year. Additionally, meal sales are estimated between 150,000 and 400,000 MT overall, while bean oil bookings are expected to range from 0 to 50,000 MT.

Nov 24 Soybeans closed at $9.97 1/2, up 5 3/4 cents.

Nearby Cash was $9.41 1/4, up 6 1/4 cents.

Jan 25 Soybeans closed at $10.05, up 4 1/2 cents.

May 25 Soybeans closed at $10.29, up 2 1/4 cents.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy .

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.