The soybean market is showing some slight 1 to 2 cent gains so far. Soybeans settled the Wednesday session with contracts ¾ to 5 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 1/2 cent at $9.46 1/2. Soymeal futures were down 90 cents to 40 cents/ton higher on the day. There were another 278 deliveries issued against December soybean meal overnight, taking the total to 2,395. Soy Oil futures ended down 21 to 30 points on the session. There were 401 deliveries issued against December bean oil, all by he ADM house account and stopped by a JP Morgan customer.

Export Sales data is expected to show between 1.5 and 2.2 MMT in soybean sales for 2024/25 in the week of 12/5, with 0-50,000 MT of 2025/26 soybean sales. Meal bookings are seen at 175,000 to 450,000 MT in that week, as bean oil sales are estimated at 5,000 to 100,000 MT.

After USDA left the Brazilian number at 169 MMT on Tuesday, CONAB released their monthly update this morning, showed a slight 0.07 MMT increase to soybean production at 166.21 MMT. Abiove also released updated estimates, taking their estimated 1 MMT higher to 168.7 MMT. 

Jan 25 Soybeans  closed at $9.95 1/2, up 3/4 cent, currently up 1 1/4 cents

Nearby Cash  was $9.46 1/2, up 1/2 cent,

Mar 25 Soybeans  closed at $10.02 3/4, up 2 1/2 cents, currently up 1 3/4 cents

Jul 25 Soybeans  closed at $10.23 1/2, up 3 cents, currently up 2 cents