Soybean Market Sees Gains Amid Trade Negotiations with Japan

Soybean prices showed resilience into Thursday’s close, with contracts rising between 8 and 13 cents. CmdtyView reported a national front month Cash Bean price increase of 15 1/4 cents, bringing it to $10.06 ¾. In contrast, soymeal futures declined by $1.20 to $2.10 per ton, while Soy Oil futures experienced a rise of 103 to 174 points during the session.

Upcoming Changes in Price Limits

The Chicago Board of Trade (CBOT) announced plans to widen price limits by five cents, increasing them to 75 cents, effective May 1.

Japan’s Potential Increase in U.S. Soybean Imports

In trade discussions, Japan is exploring the option of purchasing more U.S. soybeans to compensate for demand lost to China. Historically, Japan imports about 3 to 3.5 million metric tons (MMT) of soybeans annually, with U.S. shipments ranging between 2.1 and 2.6 MMT.

Export Sales Data and Insights

According to the morning Export Sales report, old crop soybean sales for the week ending April 17 reached 277,012 metric tons (MT). This figure is on the lower end of the anticipated range of 200,000 to 600,000 MT and represents a significant decrease of 50.1% from the previous week. Nevertheless, it shows an increase of 31.3% compared to the same week last year. Mexico emerged as the top buyer with 87,800 MT, followed by the Netherlands with 65,800 MT. Additionally, net reductions of 120 MT were noted for the 2025/26 season.

In the same week, meal sales totaled 176,178 MT, nearing the low end of expectations, which were set between 150,000 and 400,000 MT. Bean oil bookings were reported at 12,380 MT, exceeding estimates of 5,000 to 35,000 MT.

Current Soybean Prices

May 25 Soybeans closed at $10.53, marking an increase of 12 3/4 cents.

Nearby Cash was priced at $10.06 3/4, up 15 1/4 cents.

Jul 25 Soybeans finalized at $10.62, showing an increase of 11 3/4 cents.

Nov 25 Soybeans closed at $10.35 1/2, up 8 cents.

New Crop Cash was listed at $9.74 1/4, with an increase of 8 3/4 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For further details, please view the Barchart Disclosure Policy
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The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.