Soybeans are trading with gains of 5 to 7 cents on Thursday, with the cmdtyView national average cash bean price increasing by 5 ¾ cents to $10.93 ½. Soymeal futures rose between $11 and $13.20, while Soy Oil futures fell by 6 points.
The weekly Export Sales report showed old crop soybean sales at 298,208 MT for the week of March 12, falling below analysts’ expectations of 350,000 to 800,000 MT. This marks a 15.42% decline compared to the same week last year. New crop sales were reported at just 6,600 MT, also below the estimated range of 0 to 100,000 MT.
In Brazil, the soybean crop is estimated at 177.85 MMT, a slight increase of 0.73 MMT from previous assessments. The IGC forecasts global soybean production for 2025/26 at 426 MMT, down 2 MMT from last month, with carryout stocks expected to slip to 78 MMT.
