Austin Schroeder

Fri, Jun 20, 2025, 10:02 AM2 min read

The soybean market is 1 to 2 cents lower at midday on Friday. July beans hit the highest price since mid-May early this morning, but have been under pressure during the day session. Preliminary open interest was up 6,070 contracts, as July was down 9,391 contracts, and November was up 11,509. The cmdtyView Cash Bean price is down 2 cents at $10.23 1/2. Soymeal futures are UNCH to 70 cents higher at midday vs. the Wednesday close.  Soy Oil saw July hit the highest price for the contract since 2023 this morning, but futures are mostly 5 to 8 points lower at midday on profit taking July options expire today for all three parts of the crush.

The weather outlook for next week has some heavy rains from NE, the southeast corner or SD, MN, WI and parts of MI totaling from 1 to up to 5 inches in some parts. The Southern Plains, through MO and the Eastern Corn Belt is looking at smaller totals. Heat is expected to hit much of the Corn Belt, with the 5-10 day looking 7-15˚F above average in the ECB. Daytime highs above 100 degrees F are seen this weekend in the Plains and WCB but will moderate by early next week.

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This morning’s Export Sales report tallied soybean sales for 202/25 exceeding the 0 and 400,000 MT trade expectations, for old crop soybeans the week of 6/12 at 539,511 MT. That was a 14-week high and 8.3% above the same week in 2024. New crop sales were at 75,151 MT, in the middle of the 0 to 200,000 MT estimates and the highest in 5 weeks.

Soybean meal sales for last week totaled 174,302 MT, with just 160,281 MT for the current marketing year and on the low side of the trade ideas at 150,000 to 450,000 MT. Soybean oil sales were a net negative 1,473 MT on deferrals and cancellations, weaker than trade estimates of 0 to 32,000 MT for bean oil.

Chinese soybean imports in May totaled 12.11 MMT from Brazil, well above last years according to the country’s customs data. Imports originating from the US were 11.7% higher yr/yr to 1.63 MMT.

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