The soybean market is trading with 7 to 12 cent gains ahead of the weekend meeting with the US and China. There were another 3 deliveries issued against May soybeans on Thursday. The cmdtyView Cash Bean price is up 11 3/4 cents to $10.05 1/4. Soymeal futures are up 30 cents/ton, with Soy Oil futures up 22 points. There were 66 deliveries issued against May soybean meal overnight, with none for oil.
A total of 120,000 MT of soybeans were sold in a private export deal reported by the USDA to Pakistan for 2025/26.
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USDA Export Sales data now has total soybean shipped and unshipped sales at 47.72 MMT, which is 13% larger yr/yr. That is 96% of USDA’s current forecast, vs. the 97% average sales pace.
USDA’s May WASDE will be released on Monday, with Brazil production seen up 0.17 MMT to 169.17 MMT. Argentina output is expected to be tallied at 49.25 MMT, vs the 49 MMT in April.
Chinese soybean imports during April were tallied a 10-year low of 6.08 MMT, but up from the 3.5 MMT in March.
May 25 Soybeans are at $10.48, up 11 1/4 cents,
Nearby Cash is at $10.05 1/4, up 11 3/4 cents,
Jul 25 Soybeans are at $10.56 3/4, up 11 3/4 cents,
Nov 25 Soybeans are at $10.32 3/4, up 7 3/4 cents,
New Crop Cash is at $9.70 1/4, up 8 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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