Soybean Futures Show Mixed Results Amid Trade Concerns

The soybean market experienced a mixed day on Wednesday, with futures concluding down just 4 cents after initially suffering larger losses. Potential fears of a trade war stemming from a Trump presidency seemed to have little impact on closing prices. According to CmdtyView, the national front month Cash Bean price increased by 2 ¾ cents, reaching $9.47 1/2. In contrast, Soymeal futures dropped by $1.10 to $2.10 per ton during the session. On a more positive note, Soy Oil futures surged, gaining 63 to 135 points, as possible Chinese tariffs are anticipated to restrict imports of used cooking oil, which is used for biodiesel.

Upcoming Export Sales Data

As Thursday morning approaches, market watchers are anticipating the release of weekly Export Sales data. For the week ending October 31, soybean bookings are estimated between 1.2 to 2.2 million metric tons (MMT) for the current marketing year. Meanwhile, sales for the 2025/26 year are projected to be minimal, ranging from 0 to 100,000 MT. Additionally, meal sales are expected to total between 150,000 MT and 560,000 MT, while bean oil sales may range from 0 to 60,000 MT.

Production and Ending Stocks Outlook

In light of a projected decrease in production—estimated down by 25 million bushels—analysts expect U.S. ending stocks to decline further in the upcoming World Agricultural Supply and Demand Estimates (WASDE) report. A reduction of 18 million bushels to 532 million bushels is anticipated, with estimates ranging from 475 to 585 million bushels. Globally, soybean stocks are expected to tighten by 0.59 MMT, bringing the total to 134.06 MMT.

Closing Prices for Soybean Futures

Nov 24 Soybeans closed at $9.94 1/2, up 3/4 cent.

Nearby Cash was $9.47 1/2, up 2 3/4 cents.

Jan 25 Soybeans finished at $10.03 3/4, up 2 cents.

May 25 Soybeans closed at $10.29 1/4, down 1 1/4 cents.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, 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.