19/09/2024 (Barchart) - Soybean futures are posting 1 to 2 cent gains so far on Thursday with solid export bookings is this morning’s report. CmdtyView’s national front month Cash Bean price is up 1 ¼ cents at $9.54 3/4. Front month Soymeal futures are up $1.40/ton. Soy Oil futures are up 88 points so far on the day.

USDA’s weekly Export Sales report showed 1.748 MMT in soybean sales during the week of 9/12, exceeding the trade’s 0.5 and 1.6 MMT estimates. That was above the previous week and well above the same week last year. The largest buyer was China, with 973,900 MT in purchases, with Mexico the next in line buying 166,700 MT.

Soymeal sales were seen at net reductions of 2,901 MT for the 2023/24 MY, with 283,048 MT reported for 2024/25. Both of those were in the middles of trade estimates. Bean oil sales totaled a massive 46,699 MT for the current MY, with 252 MT for the 2024/25 marketing year.

International Grains Council data was released this morning, showing expected production unchanged at 419 MMT. They also left the world bean carryover at 82 MMT.

Nov 24 Soybeans  are at $10.15 3/4, up 1 3/4 cents,

Nearby Cash  is at $9.54 3/4, up 1 3/4 cents,

Jan 25 Soybeans  are at $10.34, up 2 cents,

May 25 Soybeans  are at $10.61 1/4, up 1 1/2 cents,

https://www.barchart.com/story/news/28626710/soybeans-showing-positive-trade-at-thursdays-midday