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Soybean prices fell 1 to 3 cents on Thursday, with the cmdtyView national average cash bean price rising slightly to $9.79 1/2 per bushel. Soymeal futures dropped $4.70 to $5.40 per ton, reaching their lowest levels since 2016. In contrast, soy oil gained 56 to 69 points.
The USDA reported a private export sale of 110,000 metric tons (MT) of soybeans to Egypt for the 2024/25 shipment. The weekly export sales data showed a total of 402,931 MT sold, exceeding market expectations of 200,000 to 600,000 MT and up 42.4% from the same week in 2024.
Datagro revised its estimate of the Brazilian soybean crop to 173.5 million metric tons (MMT), a 1.5 MMT increase from previous figures.
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