Soybean contracts experienced notable increases on Wednesday, with most contracts rising between 2¼ to 9¼ cents; May 26 Soybeans closed at $11.82¼, up 9¼ cents. The cmdtyView national average cash bean price also rose by 10 cents to $11.25. In contrast, soymeal futures dropped by 40 cents to $5.40, while soy oil futures surged by 87 points to 193 points.
Looking ahead, the USDA’s weekly Export Sales report is set for release on Thursday, with expectations for 2025/26 business ranging between 200,000 to 600,000 MT. New crop sales are projected at 0-50,000 MT, with soybean meal sales estimated at 150,000 to 400,000 MT. Additionally, soybean oil is anticipated to show net cancellations of 10,000 MT or sales of 12,000 MT.
Planting progress is expected to continue over the coming week, primarily across the Midwest from the Dakotas through Kansas and into Illinois, according to NOAA’s 7-day QPF.
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