Soybeans are trading with 15 to 17 cent gains so far on Thursday. Futures saw gains of 12 to 14 cents in the front months on Wednesday. Open interest showed net new buying, up 15,897 contracts. There were 23 deliveries notices against March futures overnight. The cmdtyView national average Cash Bean price was up 12 cents at $11.39 1/4. Soymeal futures were up 10 to 90 cents, with Soy Oil futures 122 to 175 points higher. There were 10 deliveries issued overnight against March meal, with 173 for soybean oil. Crude oil is up another $6.06 this morning.
Bean oil gained some strength as EPA’s RVO figure for this year was reportedly leaked near the 5.4 billion gallon level. The figure should be officially announced later this month.
USDA will release Export Sales data on Thursday morning, with traders expecting to see 250,000-800,000 MT of 2025/26 soybeans sold in the week ending on March 3. New crop business is estimated at 0-100,000 MT. Soybean oil is seen at 150,000 to 400,000 MT.
Cargill halted exports out of Brazil to China due to tighter sanitary inspection changes following a request from China.
Mar 26 Soybeans closed at $12.00 1/2, up 13 1/4 cents, currently up 15 3/4 cents
Nearby Cash was $11.39 1/4, up 12 cents,
May 26 Soybeans closed at $12.14, up 12 1/4 cents, currently up 16 3/4 cents
Jul 26 Soybeans closed at $12.27 1/4, up 12 1/4 cents, currently up 16 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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