The soybean market is trading with 3 to 5 cent gains early on Friday, with strength out of the Juneteenth holiday break. Soybeans closed the Wednesday session with contracts fractionally higher. Preliminary open interest was up 6,070 contracts, as July was down 9,391 contracts, and November was up 11,509. The cmdtyView Cash Bean price is up 1/2 cents to $10.26 1/2. Soymeal futures were down 10 to 30 cents/ton. Soy Oil was down 2 to 11 points higher on Wednesday. July options expire today.
The next week is looking for heavy rains from NE, the southeast corner or SD, MN, WI and parts of MI in the next week totaling from 1 to up to 5 inches in some parts. The Southern Plains, through MO and the Eastern Corn Belt is looking at little totals. Heat is expected to hit much of the Corn Belt, with the 5-10 day looking 7-15˚F in in the ECB.
This morning’s Export Sales report is expected to show between 0 and 400,000 MT of old crop soybeans in that week, with 0 to 200,000 MT for 2025/26. Soybean meal sales are seen at 150,000 to 450,000 MT, with 0 to 32,000 MT for bean oil.
Chinese soybean imports in May totaled 12.11 MMT from Brazil, well above last years according to the country’s customs data. Imports originating from the US were 11.7% higher yr/yr to 1.63 MMT.
Jul 25 Soybeans closed at $10.74 3/4, up 3/4 cent, currently up 3 3/4 cents
Nearby Cash was $10.26 1/2, up 1/2 cent,
Aug 25 Soybeans closed at $10.76 3/4, up 1/2 cent, currently up 4 1/4 cents
Nov 25 Soybeans closed at $10.68 1/4, up 1/2 cent, currently up 4 1/2 cents
New Crop Cash was $10.14 1/4, up 1/2 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. This article was originally published on Barchart.com
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