Soybeans are trading 10 to 12 cents higher on Friday morning for the last trade day of August. Beans closed out the Thursday session with futures 13 to 15 ½ cents higher across most contracts. Support was noted from Export Sales data. Friday is first notice day for September futures, with 6 deliveries issued against September soybeans. Soymeal futures closed the day with contracts steady to $2.60 higher across the front months. Soy Oil futures were 100 to 141 points higher across the board on Thursday.

Thursday morning’s Export Sales report tallied a total of 143,600 MT in net reductions of old crop for the week of August 22, on the lower side of the expectations of net reductions of 150,000 MT to net sales of 150,000 MT. New crop export business was hot in that week, with 2.616 MMT in sales as we had previously known about 1.38 MMT. That was a MY high and above the estimates calling for 1.5 to 2.5 MMT. Sales of 870,000 MT were reported to China, with 845,600 MT sold to unknown destinations. 

Total export sale commitment for shipped and unshipped sales have totaled 45.666 MMT, a drop of 14% from last year and 99% of USDA’s projected total, lagging the 104% average. Total shipments according to the FAS data are 43.938 MMT, 95% of the USDA forecast and 3 percentage points behind normal. Forward sales jumped to 10.158 MMT as of 8/22, which is now the third lowest going back to the 2009/10 marketing year and just 4.1% below last year.

Meal sales totaled 21,247 MT in the week of 8/22 for 2023/24, with the 2024/25 sales reported at 428,921 MT. Soybean oil sales were pegged at just 1,077 MT during that week. 

Sep 24 Soybeans  closed at $9.73 3/4, up 15 1/4 cents, currently up 10 1/2 cents

Nearby Cash  was $9.42 1/4, up 14 cents,

Nov 24 Soybeans  closed at $9.92 1/2, up 15 1/2 cents, currently 12 cents

Mar 25 Soybeans  closed at $10.23, up 13 1/4 cents, currently 11 1/2 cents

New Crop Cash  was $9.34 3/8, up 15 cents,