Soybeans are near unchanged on Thursday AM trade, with fractional losses. Futures rallied late on Wednesday, with contracts up 6 ¼ to 16 ¾ cents at the close. Open interest was down 701 contracts on Wednesday. The cmdtyView national average Cash Bean price was up 17 cents at $10.98. Soymeal futures were down 70 cents to $2.60, with Soy Oil futures up 90 to 137 points.
The White House stated on Wednesday, that President Trump is headed to China for the rescheduled meeting with China’s President Xi on May 14/15. Press Secretary Leavitt also stated the US is expected to host Xi in DC later this year.
Export Sales data will be released this morning with sales expected to be in the 200,000 to 500,000 MT range for the 2025/26 crop. New crop sales are expected to be between 0-100,000 MT. Meal sales are estimated tom be 150,000-400,000 MT, with bean oil in a range of net reductions of 20,000 MT to 24,000 MT.
May 26 Soybeans closed at $11.71 3/4, up 16 3/4 cents, currently down 3/4 cent
Nearby Cash was $10.98, up 17 cents,
Jul 26 Soybeans closed at $11.87 3/4, up 16 1/4 cents, currently down 1/2 cent
Nov 26 Soybeans closed at $11.50, up 6 1/4 cents, currently down 1 cent
New Crop Cash was $10.88 1/1, up 6 1/2 cents,
