Soybeans were in rally mode on Wednesday, with the $10 area holding. Contracts were up 18 to 19 cents at the close. The cmdtyView national average Cash Bean price is up 19 cents at $9.75 1/4. Soymeal futures were up $2.20/ton, as Soy Oil was 20 to 24 points higher.
President Trump announced a preliminary trade deal with Indonesia on Tuesday, reportedly including commitments to purchase $4.5 billion in ag products.
This morning, USDA reported an export sale for 2025/26 marketing year under the daily reporting system. Private exporters reported 120,000 MT of US soybeans sold to “unknown” destinations.
Analysts expect to see between 200,000 and 600,000 MT of 2024/25 soybean business in the week ending on July 10. New crop export sales are seen at 400,000-900,000 MT. Meal export sales are expected to total between 200,000 MT and 700,000 for the two marketings years. Bean oil business is seen 0 to 23,000 MT.
Chinese importers are estimating July soybean arrivals there to hit about 10.5 MMT from all origins, up from 9.85 MMT a year ago.
Aug 25 Soybeans closed at $10.13 1/2, up 18 1/2 cents,
Nearby Cash was $9.75 1/4, up 19 cents,
Sep 25 Soybeans closed at $10.05 3/4, up 18 1/2 cents,
Jan 26 Soybeans closed at $10.37, up 18 cents,
New Crop Cash was $9.72 1/4, up 19 3/4 cents,
