Soybeans saw a slight increase in prices heading into midday on Wednesday, with futures slipping lower on Tuesday. The cmdtyView national average Cash Bean price is up 18 cents this morning, sitting at $9.71. Soy oil has been on the rise for the fifth consecutive day, driven by tight stocks confirmed in the Tuesday NOPA report, totaling 1.366 billion lbs. Soymeal futures are also trading higher, up $4-5/ton from Tuesday, while Soy Oil futures have seen a 10 to 14 point increase.
In other news, President Trump announced a preliminary trade deal with Indonesia on Tuesday, with commitments to purchase $4.5 billion in agricultural products. Additionally, USDA reported an export sale for the 2025/26 marketing year under the daily reporting system, with private exporters revealing 120,000 MT of US soybeans sold to “unknown” destinations.
Brazil’s July exports are estimated at 12.19 MMT according to ANEC, a slight increase from the previous week’s estimate and higher than last year’s 11.25 MMT. Chinese importers are expecting July soybean arrivals to reach about 10.5 MMT from all sources, up from 9.85 MMT a year ago.
As for current prices, Aug 25 Soybeans are at $10.11, up 16 cents, Nearby Cash is at $9.73 1/4, up 17 cents, Sep 25 Soybeans are at $10.02 1/2, up 15 1/4 cents, and Jan 26 Soybeans are at $10.34 1/4, up 15 1/4 cents.
It’s important to note that on the date of publication, Austin Schroeder did not have any positions in the securities mentioned in this article. All information and data provided are for informational purposes only. This article was originally published on Barchart.com.
