Soybeans are 7 to 8 cents in the green on Thursday, as the bean oil rally continues. There were another 244 deliveries issued overnight. The cmdtyView national average Cash Bean price is yp 7 1/2 cents at $11.03 1/4. Soymeal futures are steady to 30 cents lower on the day, with Soy Oil futures 184 to 215 points higher in the front months. Crude oil is nearing the $80 level, up $4.78 at midday and providing some spillover support. There were 76 deliveries against March meal futures overnight.
The weekly Export Sales report from USDA showed 383,492 MT of soybeans sold in the week of 2/26, on the low end of the 0.3-1 MMT estimates. That was down 5.8% from the previous week, but 31.11% above the same week last year
Soybean meal sales were pegged at 255,760 MT, sneaking into the range of 200,000-550,000 MT estimates. Bean oil sales were tallied at 7,662 MT, which was in the middle of the estimates ranging from net reductions of 20,000 MT to net sales of 26,000 MT.
Brazil’s soybean crop is estimated at 183.1 MMT according to AgroConsult, up 0.85 MMT from their previous number.
Statistics Canada released planting intentions data for 2026 this morning, with canola estimated at 21.84 million acres, well shy of estimates of 22.3 million acres coming in. That was still up 1% from the same total last year. Soybean acres are seen at 5.89 million acres, up 108,000 acres from a year ago.
Mar 26 Soybeans are at $11.62 1/4, up 7 3/4 cents,
Nearby Cash is at $11.03 1/4, up 7 1/2 cents,
May 26 Soybeans are at $11.76 1/2, up 7 cents,
Jul 26 Soybeans are at $11.90, up 7 cents,
