Soybeans are trading with 2 to 3 cent gains on Friday morning. Bulls put on a midday push on Thursday but failed to hold the pop off the lows into the close, as contracts were down 6 ½ to 10 cents. CmdtyView’s national front month Cash Bean price was down 10 cents at $9.83. Soymeal was down $7-$8.50/ton across most contracts. Soy Oil futures were up 84 to 97 points on the day.

Thursday morning’s Export Sales report tallied a total of 1.44 MMT of soybeans sold in the week of 9/26, which was a 3-week low, but still 78.5% larger than the same week last year. That was on the higher end of the trade’s estimates of 1-1.6 MMT in bookings for 2024/25. China was the lead buyer of 725,700 MT, with Bangladesh next in line at 166,000 MT. That large sales total helped to take export commitments to 18.942 MMT, up 3% from last year. That is also 38% of the USDA export projection, compared to the 47% average pace for this time of year.

 

Soybean meal sales were tallied at net reductions of 40,720 MT for the 2023/24 sales, with 228,563 MT sold for 2024/25. Bean oil sales were pegged at 477 MT for 23/24, with 24/25 sales at 30,838 MT.

Nov 24 Soybeans  closed at $10.46, down 10 cents, currently up 2 1/2 cents

Nearby Cash  was $9.83, down 10 cents,

Jan 25 Soybeans  closed at $10.64 1/2, down 9 3/4 cents, currently up 2 1/2 cents

May 25 Soybeans  closed at $10.93 1/2, down 8 3/4 cents, currently up 2 1/2 cents