Soybeans Holding Gains on Friday with Bean Oil Strength Leading the Charge
Soybean prices are up 5 to 6 1/2 cents so far on Friday’s midday. The cmdtyView national average Cash Bean price is up 5 cents at $9.90 3/4. Soymeal futures are don a dime to $2. Soy Oil futures is up 164 to 175 points so far on the day.
The EPA granted full Small Refinery Exemptions to 63 of the 175 petitions from the 2016-2024 backlog this morning, with another 77 partial exemptions granted. There were 28 petitions denied and 7 listed as ineligible.
Weekly Export Sales data has old crop soybean commitments at 51.058 MMT, which is 100% of the USDA export projection and lags the 103% average sales pace. New crop sales have reached 5.855 MMT, all without Chinese buying, which is down 22.4% from last year at this time.
The final of the ProFarmer Crop Tour finished off data in Iowa, with soybean pod counts averaging 1,384.38, which was 5.49% above last year and 12.9% larger than the 3-year average. Pod counts in Minnesota were 19.9% above their 3-year average and 20.38% larger than the year prior at 1,247.86 pods in a 3’ by 3’ section.
World soybean production is estimated to total 430 MMT for the 2025/26 marketing year according to the International Grains Council, up 2 MMT from last month. World bean stocks were up 2 MMT to 85 MMT, as consumption was up 1 MMT.
Sep 25 Soybeans are at $10.39 1/2, up 5 cents,
Nearby Cash is at $9.90 3/4, up 5 cents,
Nov 25 Soybeans are at $10.61 3/4, up 5 3/4 cents,
Jan 26 Soybeans are at $10.80 1/4, up 6 1/2 cents,
New Crop Cash is at $9.83 1/2, up 5 1/2 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.