Soybeans are posting midday gains of 6 to 7 cents in the front months on Wednesday reverting from the overnight double digit losses. CmdtyView’s national front month Cash Bean price is up 6 3/4 cents at $9.88 1/2. Soymeal futures are up 90 cents/ton. Soy Oil futures are up another 51 points.
Ahead of Thursday morning’s Export Sales report the trade is estimating to see 0.9 to 2 MMT of 2024/25 soybean sales in the week that ended on September 19. Sales for 2025/26 are seen at 0-50,000 MT. For the products, analysts expect meal sales to total between 100,000 and 550,000 MT between the two marketing years, with bean oil totaling net reductions of 4,000 to 26,000 MT in sales.
Soybean stocks as of September 1 are expected to be tallied at 351 mbu ahead of the Grain Stocks report next Monday. Trade estimates are in a range of 323 to 443 mbu, with the September WASDE at 340.
Argentina’s soybean crop is estimated to total 52 MMT for 2024/25 according to the Buenos Aires Grain Exchange. That compares to the 51 MMT from USDA.
Nov 24 Soybeans are at $10.48 1/2, up 6 1/4 cents,
Nearby Cash is at $9.88 1/2, up 6 3/4 cents,
Jan 25 Soybeans are at $10.67 1/4, up 6 3/4 cents,
May 25 Soybeans are at $10.93 3/4, up 7 1/2 cents,
New Crop Cash is at $9.88 1/2, up 6 3/4 cents,
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