Soybeans are trading with 8 to 11 cents higher in the nearbys early on Wednesday, with November up 3 cents. Futures found late session strength to post 2 to 9 ¾ cent gains, as nearby July was up 14 ½ cents. Open interest was up 19,506 contracts on Tuesday, implying new buying interest. The cmdtyView national average Cash Bean price was up 10 1/4 cents at $11.46. Soymeal futures were $2.30 to $3.40 higher across most contracts, with Soy Oil futures 32 to 83 points higher.
USDA reported a private export sale of 105,000 MT of soybean meal to Colombia for the current marketing year this morning.
Crop Progress data from NASS showed 34% of the US soybean crop blooming by 7/5, up 6% from normal, with 9% setting pods and 3 percentage points faster than normal. Condition ratings were down 1% at 64% gd/ex, with the Brugler500 index steady at 365. Deterioration was seen in ND (-9), OH (-8), IN (-1) and other fringe states, with improvement in MO (+7), SD (+6), MN (+4), IL (+3), and NE/MI (+1).
Monthly export data from Census showed 2.57 MMT (94.42 mbu) of soybeans shipped in May, which was 72.46% above last year but down 14.35% from last year. That was the second largest May on record. Soybean meal exports were a record at 1.572 MMT in May, slightly below April but 19.47% above 2025.
Jul 26 Soybeans closed at $11.96 3/4, up 14 1/2 cents, currently up 11 cents
Nearby Cash was $11.46 1/1, up 10 1/4 cents,
Aug 26 Soybeans closed at $11.93 3/4, up 9 3/4 cents, currently up 8 1/2 cents
Nov 26 Soybeans closed at $11.97 3/4, up 5 1/2 cents, currently up 2 1/2 cents
New Crop Cash was $11.32 1/4, up 6 cents,
