Soybeans are 15 to 18 cents higher heading into midday on Wednesday. Futures slipped lower on Tuesday, settling 5 to 6 cents in the red. Tuesday’s preliminary open interest was up 5,374 contracts, hinting at some net new selling interest. The cmdtyView national average Cash Bean price is up 18 cents this morning, at $9.71. Soy oil is up for a fifth consecutive day, buoyed by the confirmation of tight stocks in the Tuesday NOPA report (1.366 billion lbs). Soymeal futures are trading $4-5/ton higher than on Tuesday, as Soy Oil futures are up 10 to 14 points.  President Trump announced a preliminary trade deal with Indonesia on Tuesday, reportedly including commitments to purchase $4.5 billion in ag products.

This morning, USDA reported an export sale for 2025/26 marketing year under the daily reporting system.  Private exporters reported 120,000 MT of US soybeans sold to “unknown” destinations. 

July exports out of Brazil are estimated at 12.19 MMT according to ANEC, a 0.26 MMT increase from last week’s estimate, and would be an increase from the 11.25 MMT last year. Chinese importers are estimating July soybean arrivals there to hit about 10.5 MMT from all origins, up from 9.85 MMT a year ago. 

Aug 25 Soybeans  are at $10.11, up 16 cents,

Nearby Cash  is at $9.73 1/4, up 17 cents,

Sep 25 Soybeans  are at $10.02 1/2, up 15 1/4 cents,

Jan 26 Soybeans  are at $10.34 1/4, up 15 1/4 cents,