Soybeans Hold Steady Amid Export News and Weather Forecasts
Soybean prices are holding steady on Thursday morning, despite some fluctuations in futures contracts. The cmdtyView national average Cash Bean price has risen by 5 ¾ cents to $11.52 ¼. Soymeal futures have seen gains of 40 to 90 cents across the front months, while Soy Oil futures have dipped 20 to 50 points.
The US Department of Agriculture (USDA) reported a significant private export sale of 132,000 MT of soybeans to China for the 2026/27 crop year earlier in the day. This news has likely contributed to the market's stability.
Looking ahead, forecasts suggest that eastern Nebraska and parts of the Dakotas will receive 1-2 inches of rain over the next week. Meanwhile, the latest USDA Export Sales data revealed old crop soybean sales of 302,260 MT in the week of July 23, exceeding expectations of a net reduction of 200,000 to 300,000 MT.