Soybean Prices Rise Amid Mixed Futures and Export Reports
Soybean futures experienced gains ranging from 3 to 6 cents across most contracts on Thursday, managing to withstand midday pressure. The
This morning, the USDA reported a private export sale of 225,000 MT of soybeans to Pakistan for the 2025/26 marketing year.
Export Sales and Booking Data
The USDA recorded a total of 376,653 MT of booked soybean sales for the week ending May 1, showing a decrease from the prior week and down 12.2% compared to the same week last year. Mexico was the leading buyer, securing 153,800 MT, while unknown destinations accounted for 129,800 MT. Additionally, China has over 66,000 MT of unshipped sales on the books. New crop sales were limited to 9,758 MT.
Meal sales amounted to 122,213 MT, with 111,896 MT for the current marketing year, falling notably short of the estimated range of 200,000 to 400,000 MT. Bean oil bookings were reported at 15,711 MT, aligning with expectations that ranged from net reductions of 5,000 to sales of 20,000 MT.
Upcoming USDA Report and Stock Estimates
The USDA’s May WASDE report is scheduled for release on Monday, with old crop estimates expected to total 369 million bushels, a 6 million bushel reduction from the previous month. The first projection for the new crop is estimated at 362 million bushels.
Additionally, Statistics Canada released data showing canola stocks at the end of March at 5.869 MMT, reflecting a 38.7% decline from the previous year.
Argentina Crop Estimate Adjustments
The Buenos Aires Grains Exchange has raised its estimate of the Argentina soybean crop by 1.4 MMT to a total of 50 MMT.
Current Market Closing Prices
May 25 Soybeans closed at $10.36 ¾, up 6 ¼ cents.
Nearby Cash was $9.94 ½, up 6 ½ cents.
Jul 25 Soybeans closed at $10.45, up 5 ¾ cents.
Nov 25 Soybeans closed at $10.25, up 3 cents.
New Crop Cash was $9.62 ½, up 3 cents.
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All information and data in this article is for informational purposes only.
The views expressed herein reflect those of the author and do not necessarily represent the views of Nasdaq, Inc.
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