The soybean market is trading with 8 to 9 cent gains on early on Friday trade. Soybeans recouped some of the losses from Wednesday, as contracts closed with gains of anywhere from 4 ¾ to 13 ½ cents across the board, led by the nearbys. Preliminary open interest was down 20,489 contracts on Thursday, with 25,584 contracts coming from January. CmdtyView’s national front month Cash Bean price was up 11 cents at $9.12. Soymeal futures were up $3.10 to $4.90/ton. Soy Oil futures closed 17 to 49 points higher on the session.

Thursday morning’s USDA Export Sales report tallied soybean bookings for 2024/25 at 1.424 MMT, which was in the middle of the trade range of analysts’ estimates of 0.825 and 2 MMT during the week of 12/12. That was a 21.3% increase over the previous week, but the third lowest total this marketing year. The largest buyer was China at 648,200 MT, with 374,500 MT sold to unknown destinations.

Meal sales totaled 261,586 MT in that week, which was in the range of the 150,000-400,000 MT expectations and a 48.4% jump from the previous week.  Bean oil sales were just 6,307 MT, on the bottom end of the 5,000 to 75,000 MT estimates and a 9-week low.

Jan 25 Soybeans  closed at $9.63, up 11 1/4 cents, currently up 8 1/4 cents

Nearby Cash  was $9.12, up 11 cents,

Mar 25 Soybeans  closed at $9.66 1/2, up 13 1/4 cents, currently up 8 1/2 cents

Jul 25 Soybeans  closed at $9.85, up 13 1/2 cents, currently up 9 cents