Soybeans are pushing higher again on Friday, with midday gains of 18 to 20 cents in the front months. The cmdtyView national average Cash Bean price is up 18 3/4 cents at $11.24 1/4. Soymeal futures are $7.50 to $8.50 higher on the day, with Soy Oil futures 45 to 60 points higher in the front months. There were another 50 deliveries against March soy meal overnight with 71 for bean oil. Crude oil futures are up $10.10 at midday to continue the spillover support.
The weekly Export Sales report now has export commitments for soybeans at 36.034 MMT, which is 84% of the USDA export estimate and behind the 92% average sales pace. Shipments are 61% of USDA’s number at 26.154 MMT, lagging the 78% average shipping pace.
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Brazil’s soybean crop is estimated at 183.1 MMT according to AgroConsult, up 0.85 MMT from their previous number. February exports out of Brazil were tallied at 7.113 MMT, more than triple January and 10.66% above Feb 2025. Soybeans in Argentina are estimated at 30% good/excellent according to the Buenos Aires Grains Exchange, up just 1 percentage point from last week.
Mar 26 Soybeans are at $11.82, up 18 1/4 cents,
Nearby Cash is at $11.24 1/4, up 18 3/4 cents,
May 26 Soybeans are at $11.98 1/4, up 19 cents,
Jul 26 Soybeans are at $12.10 3/4, up 18 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.
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