As of Thursday morning, soybean futures are showing gains of 3 to 5 cents, following an increase of 7.5 to 11 cents at Wednesday’s close. Open interest data reflects a rise of 3,344 contracts, indicating new buying interest. The cmdtyView national average cash bean price is up 8.75 cents to $11.55 ½. Soymeal futures have seen increases ranging from $1.50 to $3.70, while soy oil futures are up 16 to 52 points.
Analysts forecast that Export Sales data, set to be released today, will report 100,000 to 500,000 MT of 2025/26 soybean sales for the week of July 9, with expectations of new crop business totaling between 0.9 and 1.7 MMT. Soybean meal sales are estimated at 150,000 to 650,000 MT, while bean oil bookings may show net sales of 16,000 MT, amidst potential cancellations of 10,000 MT.
Additionally, NOPA data revealed that 214.34 million bushels of soybeans were crushed in June, surpassing the average trade estimate of 203.99 million bushels. This marks a 15.69% increase year-on-year and a 2.66% rise from May. Bean oil stocks are reported at 1.5 billion lbs, which is below the anticipated 1.653 billion lbs and down 13.51% from the end of May.
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