Soybeans are trading with contracts up 2 to 3 ¼ cents at midday. The cmdtyView national average Cash Bean price is up 3 1/2 cents at $10.71 3/4. Soymeal futures are $1.60 to $2.20 lower, with Soy Oil futures 10 to 21 points lower. NOPA stocks are an issue.
NOPA data was released this morning, with a total of 221.56 mbu of soybeans crushed in January, exceeding estimates. That was 10.57% above last year, but down 1.52% from last month. Soybean oil stocks rose 15.6% over last month and 49.07% above last year.
Export Inspections data showed soybean shipments at 1.203 MMT (44.2 mbu) shipped in the week that ended on February 12. That was up 5.01% from the week prior, and 65.3% above the same week last year. China was the top destination of 684,069 MT, with 223,890 MT to Egypt and 81,455 MT to Colombia. Marketing year shipments have totaled 24.35 MMT (894.7 mbu), which is up 32.4% yr/yr.
CFTC data indicated managed money adding 94,316 contracts to their net long position as of 2/10, taking it to 123,148 contracts.
AgRural estimates the Brazilian soybean crop at 21% harvested as of last Thursday, down from the 24% harvest pace in 2025.
Mar 26 Soybeans are at $11.36 1/4, up 3 1/4 cents,
Nearby Cash is at $10.71 3/4, up 3 1/2 cents,
May 26 Soybeans are at $11.50 3/4, up 2 1/4 cents,
Jul 26 Soybeans are at $11.63, up 2 1/2 cents,
