Soybeans are trading with contracts up 5 to 7 cents so far on Thursday. The soybean market settled the midweek session with nearbys fractionally lower to and some new crop months fractionally higher. Wednesday’s preliminary open interest was down 6,696 contracts. CmdtyView’s national front month Cash Bean price was down 1/2 cents at $9.42 1/2. Soymeal futures closed the midweek session with contracts down 90 cents to $1.50/ton, with Soy Oil futures 33 to 41 points higher on the day.

Weekly Export Sales data is expected to show 2024/25 soybean sales totaling 300,000-900,000 MT in the week of 3/20, with new crop sales seen between 0-50,000 MT. Soybean meal bookings are estimated at 150,000 to 450,000 MT, with 5,000 to 30,000 MT expected for soybean oil.

March 1 soybean stocks are estimated to total 1.905 bbu according to a Bloomberg survey of analysts, ahead of the March 31 Grain Stocks report next Monday. The range of estimates is from 1.823 to 2.016 bbu. 

Soybean exports out of Brazil in March are expected to total 15.56 MMT, according to ANEC, steady with the estimate from the week prior. Meal exports are estimated at 2.3 MMT, down 0.3 MMT from the previous number.

May 25 Soybeans  closed at $10.01, down 3/4 cent, currently up 6 3/4 cents

Nearby Cash  was $9.42 1/2, down 1/2 cent,

Jul 25 Soybeans  closed at $10.15, down 1/2 cent, currently up 6 1/4 cents

Nov 25 Soybeans  closed at $10.06 3/4, up 1/4 cent, currently up 5 1/2 cents

New Crop Cash  was $9.42 1/4, down 1/4 cent,