Soybeans slipped from the near double digit gains early on Thursday bus still closed 1 to 2 cents higher and July up 5 ¾ cents. On the week, August was up 22 ¼ cents, with November rallying 24 ½ cents. The cmdtyView national average Cash Bean price was up 1 1/4 cents at $10.13 3/4. Soymeal futures were 60 cents to $1.40 higher on the day, with August $1.80 higher this week. Soy Oil was down 36 to 47 points, but still managed a 207 point gain on the week. The market will be closed on Friday for the July 4^th holiday, with a normal Sunday night open.

Rains are expected to cover much of the Western Corn Belt in the next week, with 1 to 2 inches expected. Lighter totals reaching an inch or less are seen in the ECB.

USDA reported private export sales of 226,000 MT of old crop soybeans to unknown destinations this morning. Another flash sale of 195,000 MT of soybean meal was also reported (45,000 MT for 2024/25 and 150,000 MT for 2025/26).

This morning’s Export Sales report showed 462,435 MT of 2024/25 soybeans booked in the week of 6/26, in the middle of the analysts’ estimates of 300,000 and 700,000 MT. That was still up 14.8% from last week and more than double the same week in 2024. Unknown ws the buyer of 190,500 MT, with 165,000 MT sold to Egypt. New crop sales were 239,046 MT, on the higher side of the expected 0 and 300,000 MT. That was the second largest total this marketing year with accumulated new crop business at 1.59 MMT. Mexico was the top buyer of new crop at 131,600 MT. 

Soybean meal sales were tallied at 306,203 MT for the current marketing year, and 397,357MT for the next MY. Total sales of 703,560 MT exceeded trade ideas of 100,000 to 650,000 MT. Bean oil bookings totaled 11,764 MT, which was in the expected range of net reductions of 10,000 MT to sales of 26,000 MT. 

Census data for May exports was released this morning showed 1.6 MMT (58.6 mbu) of soybeans shipped in the month. That was down 26.81% from April but up 13.13% from last year. Third quarter exports were 267 mbu, with the first 9 months of the marketing year totaling 1.685 bbu. Meal exports were 1.36 MMT, which was a record for May. Bean oil shipments were a 5-year May high at 142,303 MT. 

Jul 25 Soybeans  closed at $10.56 1/4, up 5 3/4 cents,

Nearby Cash  was $10.13 3/4, up 1 1/4 cents,

Aug 25 Soybeans  closed at $10.55 1/2, up 2 cents,

Nov 25 Soybeans  closed at $10.49 1/4, up 1 1/4 cents,

New Crop Cash  was $10.01 1/2, up 1/2 cent,