Soybeans are mixed on Friday, within a penny of unchanged on Friday. The cmdtyView national average Cash Bean price is up 1 cent at $10.99. Soymeal futures are $1.50 to 1.70 on the day, with Soy Oil futures down 120 to 130 points. The latter is pressured with crude oil falling $11.27 on the day following Iran agreeing to open the Strait of Hormuz this morning.
Weekly Export Sales data was released on Thursday now shows soybean export commitments at 38.15 MMT, down 18% from a year ago. That is now 91% of the USDA forecast and behind the 96% average sales pace. Exports are 31.33 MMT, which is 75% of USDA’s number and lags the 85% pace, but has picked up.
