Soybeans are trading with 2 to 3 cent gains in most front months on Thursday. The cmdtyView national average Cash Bean price is up 2 3/4 cents at $11.01 ½. Soymeal futures are up 40 cents to $1.20, with Soy Oil futures up 85 to 91 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 from this morning showed sales at 668,901 MT, above the expected range of 200,000 to 500,000 MT for the 2025/26 crop. That was the largest in 5 weeks and down 15.42% from the same week last year. New crop sales were 27,000 MT, vs. estimates of between 0-100,000 MT.
Meal sales were the highest since mid-December at 507,601, exceeding the estimated range of 150,000-400,000 MT. Bean oil sales totaled 753 MT, which was in the middle of the estimated range of net reductions of 20,000 MT to sales of 24,000 MT.
NASS March Intentions data will be out on Tuesday next week, with traders looking for 85.55 million acres of soybeans planted this spring. That would be up 4.33 million acres if realized.
May 26 Soybeans are at $11.74 1/4, up 2 1/2 cents,
Nearby Cash is at $11.01 1/2, up 2 3/4 cents,
Jul 26 Soybeans are at $11.90, up 2 1/4 cents,
Nov 26 Soybeans are at $11.52, up 2 cents,
New Crop Cash is at $10.89 1/4, up 1 1/4 cents,
