Soybean Price Pullback Continues Through Thursday Trading

The soybean price weakness persists as front-month contracts extended declines on Thursday morning, with prices retreating 1 to 3¼ cents across the near-term months. The latest cash market assessment from cmdtyView shows the national average at $9.91, down 3 cents from the previous session, reflecting ongoing pressure in the complex.

Front-Month Soybean Futures Show Mixed Performance

Soybean meal contracts gained ground with futures climbing $3.40 to $3.70/ton, providing a bright spot amid broader soybean price weakness. However, soybean oil futures faced headwinds, declining 30 to 35 points. Mar 26 soybean contracts are trading at $10.61¼ (down 3¼ cents), with nearby cash at $9.91, while May 26 soybean futures rest at $10.73¼ (down 1¾ cents) and Jul 26 soybean contracts at $10.86 (down 1¼ cents).

Export Data Drives Soybean Price Direction

The USDA reported a private export shipment totaling 192,350 MT of soybeans to unknown destinations this morning, continuing to shape trader sentiment. Market participants are bracing for the Friday morning Export Sales data release, with consensus expectations suggesting between 1.5-3 MMT in soybean sales for the week. Recent daily announcements have accumulated 1.403 MMT, while soybean meal sales are projected between 200,000 and 500,000 MT, with soybean oil estimated at 5,000-25,000 MT. These figures remain critical indicators that traders monitor closely when assessing near-term soybean price momentum.

Brazil Crop Estimates Signal Growing Global Supply

ABIOVE’s latest soybean crush estimate reveals Brazil’s processing capacity climbing 2.5 MMT year-over-year to 61 MMT, underpinned by the country’s robust 177.12 MMT crop projection. More significantly, the group estimates Brazilian soybean exports will reach 111.5 MMT in 2026, representing a 3.3 MMT increase from the prior year. This expanding supply backdrop carries implications for global soybean price dynamics heading into the new year, potentially capping upside momentum as traders account for increased availability from major producing regions.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.