Soybeans will be back to trade this morning at 8:30 am CST following the holiday. Futures were 5 to 7 cents higher across the front months on Wednesday, as bulls were busy buying ahead of the holiday. Preliminary open interest was up 10,817 contracts, mostly in March through July. The cmdtyView national average Cash Bean price was 6 3/4 cents higher to $10.59 3/4. Soymeal futures were mixed, with contracts withing 50 cents of unchanged, as Soy Oil futures were 32 to 57 points higher. There were 199 deliveries issued against December soybean meal for first notice day, with 447 for bean oil.
Wire reports indicate that China had purchased another 10-15 cargoes of US soybeans for January shipment late on Tuesday. China also barred a shipment of Brazilian soybeans on Wednesday after finding wheat mixed with pesticides mixed in the cargo. Exports from 5 exporters be suspended as of Thursday.
USDA’s Export Sales data for the week ending on October 16 will be out this morning, with traders looking for between 0.6 and 2 MMT of soybean sales. Daily flash sale announcements totaled 373,400 MT in that week all to Mexico.
Agroconsult estimates the 2025/26 soybean crop at 178.1 MMT, which would be a 6 MMT increase from last year’s total
Jan 26 Soybeans closed at $11.31 1/2, up 6 3/4 cents,
Nearby Cash was $10.59 3/4, up 6 3/4 cents,
Mar 26 Soybeans closed at $11.40 3/4, up 6 cents,
May 26 Soybeans closed at $11.50 1/2, up 5 1/2 cents,
