Soybeans are trading 1 to 2 cents lower early on Thursday morning, with August up 2 cents. Futures saw losses of 2 to 3 ½ cents across most contracts on Wednesday, with deferreds fractionally mixed. Preliminary open interest was down 14,512 contracts on Wednesday, suggesting some longs were coming out. The cmdtyView national average Cash Bean price was down 4 3/4 cents at $11.29 3/4. Soymeal futures were down $1.30 to $2.80, with Soy Oil 22 to 48 points lower. There was just 1 delivery issued against August beans overnight. For the products, there were 15 deliveries for August soy meal and 41 for bean oil.
USDA will release their weekly Export Sales report this morning with analysts estimating sales of 100,000-400,000 MT for 2025/26 in the week of 7/30. New crop business are seen at 0.9-1.55 MMT in that week. Soybean meal is seen in a range of 200,000 to 500,000 MT, with bean oil expected to be between net cancellations of 10,000 MT to sales of 10,000 MT.
