Soybean futures posted double-digit gains of 10 to 13.25 cents on Thursday, with cash prices also rising, while soymeal futures advanced $2.50 to $7.40, even as soy oil futures declined 30-37 points. This market activity followed the release of weekly export sales data, which indicated strong soybean sales of 870,533 MT and substantial 2025/26 soymeal sales of 623,515 MT, despite 2024/25 cancellations. Additionally, CONAB slightly lowered its 2025/26 Brazilian soybean crop estimate to 177.6 MMT, and the USDA is expected to release a backlog of daily sales reports.
Soybean futures posted significant gains on Thursday, with nearbys rising 10 to 13.25 cents and the cmdtyView national average Cash Bean price increasing 12.75 cents to $10.73. This upward movement was largely driven by robust export sales data, which showed 870,533 MT of soybeans sold in the week of September 25. Soymeal futures also advanced $2.50 to $7.40, reflecting strong demand, while soy oil futures declined 30 to 37 points, indicating a divergence in product demand. The export data further highlighted substantial 2025/26 soymeal sales of 623,515 MT, although tempered by 216,215 MT in 2024/25 cancellations. Concurrently, CONAB's latest estimate for the 2025/26 Brazilian soybean crop was slightly lowered by 0.07 MMT to 177.6 MMT, potentially tightening future supply expectations. Investors should anticipate further market catalysts as the USDA is scheduled to release a backlog of unreported large daily sales on Friday, with weekly reports resuming twice per week until January 2. This data could introduce additional volatility or reinforce the current bullish sentiment, depending on the magnitude of previously undisclosed sales.
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strongly positive
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