Soybeans Showing Modest Gains as Meal Carries the Load

Soybeans are powering through at Thursday's midday, with contracts 2 to 4 cents higher at midday. The cmdtyView national average Cash Bean price is up 2 cents at $12.64 ¾. Soymeal futures are rallying $9 to $11.30 in the front months, with Soy Oil down 75 to 80 points at midday.

The 7-day forecast from NOAA continues to call for heavy rains from parts of SD, NE, and KS through IA, MN, WI, IL, IN, and OH. That will limit early harvest progress.

USDA's Export Sales report from this morning showed 1.7 MMT in 2026/27 soybean sales in the week of September 10, which was between analysts' estimates of 0.9-2.4 MMT. That was nearly double the same week last year.

Soybean meal bookings were seen at 210,507 MT, which was on the lower side of the 150,000 and 650,000 MT estimates, with 23,673 MT for the current marketing year and 186,834 MT for 2026/27. Bean oil was tallied at 4,372 MT, with 163 MT in net reductions for 2025/26 and 4,535 MT for 2026/27, between estimates of net cancellations of 10,000 and combined sales of 10,000 MT.

Nov 26 Soybeans are at $13.22 3/4, up 2 1/4 cents

Nearby Cash is at $12.64 3/4, up 2 cents

Jan 27 Soybeans are at $13.40, up 2 3/4 cents

Mar 27 Soybeans are at $13.49, up 3 3/4 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. This article was originally published on Barchart.com