Soybean futures closed on September 26, 2023, with contracts up 1 to 2 ¼ cents, marking a cash bean price increase to $12.32 1/4. Soymeal futures saw slight gains while soy oil prices rose by 32 to 80 points.
The latest USDA Export Sales report revealed 73,913 MT of soybean sales for the 2025/26 marketing year, with Egypt as the largest buyer at 105,000 MT. New crop soybean sales reached 2.478 MMT, a marketing year high, driven primarily by a demand surge from China at 1.1 MMT.
In related news, reports indicate the White House is considering increasing quotas for small refinery exemptions by 500 million gallons for 2027, to adjust for higher-than-expected exemptions, though no official announcement has been made. The European Commission also projected that EU soybean imports for 2026/27 will rise to 14.5 MMT, up 0.6 MMT from last month’s estimate.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
