Soybeans posted gains across the nearbys on Thursday with contracts fractionally to 4 cents higher. The cmdtyView national average Cash Bean price was 6 1/4 cents higher at $9.65 1/2. November soybeans have now averaged $10.19 through October. Soymeal futures were steady to $3.10 higher on the day, with Soy Oil 10 to 58 points lower.
No Export Sales data will be released on Thursday due to the government shutdown, with the trade expecting that between 0.6 and 2 MMT of soybean were sold in the week ending on October 16. Meal sales are seen at 150,000 to 450,000 MT, with bean oil in the 5,000 to 25,000 MT range.
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As part trade talks, Japan is looking to increase purchases of US soybeans, though the US already takes up roughly 70% of the Japanese imports which annually total 3.3 MMT. Secretary Bessent and Chinese counterparts are expected to meet this weekend in Malaysia for trade talks ahead of the expected meeting between Trump and Xi at the end of the month.
Brazil’s 2025/26 soybean production estimate from Abiove was pegged at 178.5 MMT, up 6.7 MMT above the total from the previous year. Crush is expected to rise 2 MMT to 60.5 MMT.
Nov 25 Soybeans closed at $10.34 3/4, up 4 cents,
Nearby Cash was $9.65 1/2, up 6 1/4 cents,
Jan 26 Soybeans closed at $10.50, up 1 1/2 cents,
Mar 26 Soybeans closed at $10.63, up 1/4 cent,
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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