Soybean futures are trading 5 to 6 cents lower at midday on profit taking after the rally on Wednesday had boosted prices above the $12 round number resistance. Futures settled 7 ½ to 11 cents higher on Wednesday. Open interest suggested modest new buying interest, rising 3,344 contracts. The cmdtyView national average Cash Bean price was down 5 ¼ at $11.51 3/4. Soymeal futures are $2.20 to $2.80 higher at midday, while Soy Oil futures have given up early gains and are trading 1 to 6 points lower.
Export Sales data from this morning showed 188,274 MT of old crop soybean sales in the week of July 9, within analyst estimates of 100,000-500,000 MT. That was a 3 week high but down 30.74% from the same week in 2025. New crop business of 1.77 MMT that week exceeded the estimated 0.9-1.7 MMT. That was a MY high and takes the total for the new crop business to 4.598 MMT.
Soybean meal export sales hit 228,235 MT in the reporting week, with 177,043 MT for the current marketing year, within estimates of 150,000 MT to 650,000 MT. Bean oil bookings were net negative 122 MT, vs. estimates ranging from net cancellations of 10,000 MT to net sales of 16,000 MT.
NOPA Bean oil stocks were 1.5 billion lbs at the end of June, tighter than pre-report estimates of 1.653 billion lbs. That was a 13.51% draw down from the end of May but up 8.42% from a year ago.
The USTR has announced a new 25% tariff (expected to be effective July 22) on imports of Brazilian products into the US, using the established Section 301 trade law. There were exemptions for beef, coffee, rare earths and other categories. The Brazilian response is still pending.
Aug 26 Soybeans are at $11.96 1/2, down 5 3/4 cents,
Nearby Cash is at $11.51 3/4, down 5 1/4 cents,
Sep 26 Soybeans are at $11.86, down 6 1/4 cents,
Jan 27 Soybeans are at $12.09 3/4, down 6 cents,
New Crop Cash is at $9.25 1/1, down 9 1/2 cents,
