Soybeans Finding Some Buyers at Midday, Still Facing Weaker

Soybeans are trying to pull off the early near double digit losses on Friday, with contracts down 1 to 3 cents at midday. The cmdtyView national average Cash Bean price is down 1 ¼ cents at $12.03 1/2. Soymeal futures are down $3.20 to $3.40, with Soy Oil futures up 19 to 20 points. 

USDA confirmed another round of private export sales of 558,000 MT of soybeans to China this morning, taking this week’s total to 1.358 MMT to China. There was another 236,000 MT to unknown destinations, with the total to unknown sales announced this week at 519,450 MT.

Export Sales data indicated 574,878 MT of wheat sales in the week ending on October 8, on the lower side of trade ideas of between 0.5-1.2 MMT in 2026/27 soybean sales. That was up just 4.64% from last week but 26.77% below the same week last year. Sales for 2027/28 were at just 1,000 MT.

Soybean meal sales were tallied at 366,314 MT, which was on the middle of the estimated range of 200,000 to 600,000 MT. Bean oil sales came in at 1,208 MT, compared to trade estimates of 0-10,000 MT.

Nov 26 Soybeans  are at $12.61 1/4, down 1 3/4 cents,

Nearby Cash  is at $12.03 1/2, down 1 1/4 cents,

Jan 27 Soybeans  are at $12.75 3/4, down 2 cents,

Mar 27 Soybeans  are at $12.84 1/2, down 1 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.