Soybeans rounded out the Thursday session with contracts up 5 to 8 cents. The cmdtyView national average new crop Cash Bean price was up 7 ½ cents today at $9.83 1/4. Soymeal futures were mixed, closing 80 cents lower to 30 cents higher, while Soy Oil was 97 to as much as 147 points higher in the front months. Crude oil was up $1.21/barrel to provide some assistance.
This morning, USDA indicated that old crop bean sales totaled 271,900 MT for the week ending July 10, with net sales of 529,600 MT for 2025/26 marketing year delivery. Both were thus within trade expectations. Combined old and new crop soy meal bookings totaled 530,500 MT. Soy oil export sales were a market neutral 7,900 MT, but well above the 4 week moving average. Venezuela and Mexico were the primary destinations.
Abiove left their estimate for the Brazilian crop at 169.7 MMT, while increasing their crush number by 0.3 MMT to 57.8 MMT and taking exports 0.8 MMT higher to 109 MMT. Following suit from USDA last week, the Rosario Grains Exchange raised their Argentina soybean crop estimate by 1 MMT to 49.5 MMT.
Aug 25 Soybeans closed at $10.21 1/2, up 8 cents,
Nearby Cash was $9.83 1/4, up 7 1/2 cents,
Sep 25 Soybeans closed at $10.12, up 6 1/4 cents,
Jan 26 Soybeans closed at $10.43 3/4, up 6 3/4 cents,
New Crop Cash was $9.78 1/1, up 5 3/4 cents,
