Soybeans broke to the downside on Wednesday, with contracts down 8 ½ to 11 ¼ cents at the close. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $10.95 1/2. Soymeal futures were 60 cents to $5.40 lower, with Soy Oil futures 30 to 71 points higher.
As Wall Street Journal report stated that USDA Secretary Vaden said he expects China to honor their commitment to buy 25 MMT of US soybeans this year and stated that they have already started placing orders. USDA’s Export Sales data shows no new crop sales to China, with just 317,000 in 2026/27 sales for unknown destinations.
Export Sales data will be released on Thursday, with old crop business expected to be in a range of 100,000-500,000 MT. Sales for 2026/27 are seen at 60,000 to 300,000 MT. Bean meal sales are seen between 200,000 to 600,000 MT, bean oil expected between net reductions of 5,000 MT to 16,000 MT in net sales.
The 7-day forecast from NOAA shows 1-2 inches across much of the Central/Western Corn Belt in the next week, mainly ahead of the weekend. The Eastern Corn Belt in central IL to OH shows very little precip.
Jul 26 Soybeans closed at $11.54, down 11 1/4 cents,
Nearby Cash was $10.95 1/2, down 11 1/4 cents,
Aug 26 Soybeans closed at $11.58 1/4, down 10 3/4 cents,
Nov 26 Soybeans closed at $11.67 1/4, down 10 1/2 cents,
New Crop Cash was $11.02 3/4, down 10 1/4 cents,
