Soybeans posted Thursday of 13 to 16 cents across most contracts. CmdtyView’s national front month Cash Bean price is up 18 cents at $9.60 1/2. Soymeal futures closed the Thursday session with contracts up 10 to 90 cents/ton, as Soy Oil futures were 110 to 163 points higher on the day. According to a Reuters report, the White House has asked biofuel and oil producers to discuss new biofuel policy. Increasing the blending mandate for renewable diesel and biodiesel has already been an area of agreement.

Weekly Export Sales data show 2024/25 soybean sales totaling 338,469 MT for the week of 3/20, a drop of 4% from last week but still 28.3% largest than the same week last year. Mexico was the largest buyer on the week of 260,900 MT, with 202,300 MT sold to China (mostly switched from unknown). There was 361,400 MT in net reductions for unknown, most of which were switched to a destination. New crop business was a net reduction of 21,906 MT. 

Soybean meal bookings were tallied at 165,992 MT, a 10-week low. Bean oil sales were tallied at 44,493 MT, a 30.2% increase wk/wk.

Following a tour of the Brazilian soybean crop, AgroConsult raised their 2024/25 soybean production estimate to 172.1 MMT, above their February projection. 

May 25 Soybeans  closed at $10.16 3/4, up 15 3/4 cents,

Nearby Cash  was $9.60 1/2, up 18 cents,

Jul 25 Soybeans  closed at $10.30 1/2, up 15 1/2 cents,

Nov 25 Soybeans  closed at $10.20 1/2, up 13 3/4 cents,

New Crop Cash  was $9.56 1/2, up 14 cents,