Soybean Prices Gain Amid Stable Stock Reports

Soybeans are showing strong performance with gains of 4 to 5 cents on Wednesday. CmdtyView’s national front month Cash Bean price is currently up 3 1/2 cents, reaching $9.49 1/4. Meanwhile, soymeal futures have increased by 90 cents per ton today. The overnight session saw 456 deliveries against December soybean meal futures. Additionally, Soy Oil futures are up by 26 points, with 31 deliveries against December bean oil futures reported by the CME.

Expectations for Upcoming Export Sales

Export Sales data, set to be released in the week of December 5, is anticipated to reveal soybean sales for 2024/25 between 1.5 and 2.2 million metric tons (MMT). Sales for 2025/26 are expected to range from 0 to 50,000 MT. For meal, bookings are forecasted to fall between 175,000 to 450,000 MT, and bean oil sales may be estimated at 5,000 to 100,000 MT.

USDA Reports Maintain Stock Levels

On Tuesday, the USDA reported that US soybean stocks remain unchanged at 470 million bushels (mbu). In contrast, the global carryout increased slightly by 0.13 MMT, now at 131.87 MMT.

Current Soybean Futures Prices

January 2025 Soybeans: $9.98 1/4, up 3 1/2 cents

Nearby Cash: $9.49 1/4, up 3 1/2 cents

March 2025 Soybeans: $10.04 1/2, up 4 1/4 cents

July 2025 Soybeans: $10.24 3/4, up 4 1/4 cents

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

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