Soybean futures extended gains to reach fresh two-year highs at midday, advancing 5 to 8 cents across the board. The cmdtyView national average cash bean price rose 5 cents to $12.05½. Soymeal futures climbed $1.30 to $2.00 higher, while soyoil futures added 2 to 7 points.
The USDA confirmed a private export sale of 126,000 metric tons of soybeans to unknown destinations for the 2026/27 marketing year.
Weekly export sales data showed net bookings of 56,351 metric tons for the week ending July 16, falling within analyst expectations ranging from net cancellations of 200,000 tons to sales of 400,000 tons. This marked the third-lowest weekly total for the marketing year, though consistent with seasonal patterns as July concludes. Forward sales for 2026/27 reached 1.537 million metric tons, exceeding estimates of 1.0 to 1.8 million tons and representing the second-largest forward sale total this marketing year—nearly triple the volume from the same week a year ago.
Soymeal sales totaled 591,179 metric tons, surpassing trade estimates of 100,000 to 575,000 tons. The bulk was allocated to 2026/27 (406,130 tons), with 185,049 tons for the current marketing year. Soyoil sales came in at 635 tons, within the expected range of net reductions of 10,000 tons to sales of 10,000 tons.
Rabobank projects the 2026/27 Brazilian soybean crop at 178 million metric tons, down 4 million tons from the previous year.
Key Midday Quotes:
- August 2026 Soybeans: $12.38, up 5 cents
- Nearby Cash: $12.05½, up 5 cents
- September 2026 Soybeans: $12.33¼, up 7¼ cents
- November 2026 Soybeans: $12.46¾, up 7¾ cents
- New Crop Cash: $11.88½, up 8 cents
On the date of publication, Austin Schroeder did not hold positions in any securities mentioned in this article. All information is for informational purposes only. For more details, please view the Barchart Disclosure Policy.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
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