Soybeans Rallying Off Thursday Morning Losses

Soybeans are trading with 2 to 4 cents higher at midday. The cmdtyView national average Cash Bean price was down 2 1/2 cents at $12.54 1/2. Soymeal futures are up $4.50 to $5.90, with Soy Oil back down 116 points. There were 19 delivery notices overnight against September beans, with 265 deliveries for September meal and 390 for September bean oil. 

USDA reported a private export sale of 192,000 MT to China this morning for 2026/27 shipment.

Export Sales data showed old crop bean cancellations of 94,181 MT, within analysts’ estimates of net cancellations of 200,000 MT to 200,000 MT of sales. That is normal for that late in the marketing year. Bookings for 2026/27 soybeans were tallied at 1.948 MMT, in the middle of the expected range of 1.4 to 2.5 MMT. That was back down from last week but was the second largest for the marketing year. 

Soybean meal sales were shown with 29,370 MT for the current marketing year and 701,850 MT for next MY, within estimates of 125,000 MT to 1.1 MMT in that week. Bean oil bookings were tallied at 5,287 MT, with 1,324 MT for 2025/26 and 3,963 MT for 2026/27, falling between estimate of net cancellations of 10,000 MT to net sales of 10,000 MT. 

Monthly Census data was released on Thursday, with a total of 1.89 MMT (69.5 mbu) of soybeans shipped in July. That was a 4-year high, up 6.29% from last year, but 1.34% below June. Soybean meal shipments were 1.591 MMT, a record for the month and up 19.7% from last year.

Allendale’s estimate for the 2026 US bean crop is 52.6 bpa according to a producer survey, with production at 4.515 bbu. 

Sep 26 Soybeans  are at $13.00 1/4, down 1 1/2 cents,

Nearby Cash  is at $12.54 1/2, up 2 1/4 cents,

Nov 26 Soybeans  are at $13.13 3/4, up 3 1/2 cents,

Jan 27 Soybeans  are at $13.28 3/4, up 3 3/4 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.