Austin Schroeder
1 min read
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Soybean bulls are putting back on some gains on Friday, with contracts up 8 to 12 cents so far. The cmdtyView national average Cash Bean price is up 8 1/4 cents at $9.88 1/2. Soymeal futures are recovering higher on Friday, with July up 50 cents. Soy Oil are down a single point in the front month on Friday
The forecast is a little spottier this next week with the central Corn Belt looing at 1-2 inces in IA/MN/MO, with southern parts of the ECB seeing up to an inch.
USDA reported a private export sale of 119,746 MT of soybeans to Mexico for 2025/26.
USDA will release their Grain Stocks report on Monday, with traders surveyed by Bloomberg looking for 974 mbu of soybean stocks on June 1, with a range of 936 mbu to 1.022 bbu. That survey also showed an estimated 83.5 million soybean acres.
Export commitments of soybeans are 49.474 MMT, as of June 19, which is 98% of the USDA projection, down from the 5-year average of 102%.
StatsCanada estimates the Canadian canola acreage at 21.457 million acres, down 2.5% from last years. Soybean acres are seen up 0.5% to 5.737 million acres.
Jul 25 Soybeans are at $10.31, up 8 1/4 cents,
Nearby Cash is at $9.88 1/2, up 8 1/4 cents,
Aug 25 Soybeans are at $10.36 1/2, up 8 3/4 cents,
Nov 25 Soybeans are at $10.28, up 11 1/2 cents,
New Crop Cash is at $9.76, up 11 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. This article was originally published on Barchart.com
