Soybean futures are showing mixed trade so far on Friday morning, mostly within a penny of unchanged. Soybeans saw a bounce back on Thursday with contracts closing 5 to 11 cents in the green. CmdtyView’s national front month Cash Bean price is back up 10 1/2 cents at $9.48 1/2. Soymeal futures were on the move higher, up $4.70 to $7.90/ton in the nearbys on Thursday, with Soy Oil futures 29 to 40 points lower. There were 30 deliveries issued against the expiring March contract overnight, with 125 for March meal and 24 for bean oil.

USDA’s Export Sales report from Thursday morning showed bookings at 751,651 MT for 2024/25 soybean sales. That was a 7-week high and well above the same week last year. China was the top buyer of 208,300 MT, most of which was switched from unknown, with Indonesia buying 151,800 MT. Sales for new crop were 43,144 MT. Soybean meal sales backed off to 186,361 MT, with bean oil sales at 68,512 MT.

The total for 2024/25 export commitments has now reached 45.069 MMT, which is 14% larger than last year. That is also 91% of USDA’s export forecast for the marketing year, matching the average sales pace. 

The Rosario Grains Exchange trimmed their Argentina soybean crop projection by 1 MMT to 46.5 MMT. CONAB raised their Brazilian soybean crop estimate by 1.36 MMT to 167.37 MMT.

Mar 25 Soybeans  closed at $9.96 3/4, up 9 1/4 cents, currently unch

Nearby Cash  was $9.48 1/2, up 10 1/2 cents,

May 25 Soybeans  closed at $10.10 3/4, up 10 1/4 cents, currently down ¾ cent

Nov 25 Soybeans  closed at $10.11 3/4, up 5 1/4 cents, currently up 1 1/4 cents

New Crop Cash  was $9.47 1/4, up 5 1/4 cents,