Soybeans rounded out the Thursday session with contracts down 4 to 6 cents. CmdtyView’s national front month Cash Bean price is down 5 1/4 cents at $9.52. Soymeal was down $2.50 to $5.10/ton so far on the day. Soy Oil futures were up 58 to 70 points on the session.

Export Sales data was released this morning, with 2024/25 soybean sales totaling 1.264 MMT for the week ending on 10/3, which was the lowest of the 4 full weeks so far in the marketing year. That was down 12.4% from the previous week but still 30.1% larger than the same week last year. China was the top buyer of 583,400 MT, with the Netherlands next up at 207,300 MT and Mexico in for 134,900 MT. 

Soybean meal sales totaled just 165,717 MT in the week that ended on October 3. On the lower side of the 100,000 to 400,000 MT estimates. Bean oil sales were on the bottom half of the 0 to 20,000 MT expectations at 3,821 MT.

Ahead of the monthly WASDE, a Bloomberg survey of analysts estimates US bean ending stocks to come in at 546 mbu, a 4 mbu drop from last month on the smaller projected production. World ending stocks are estimated at 134.6 MMT, even with last month, as South American production is expected to see very few changes. 

Nov 24 Soybeans  closed at $10.14 3/4, down 5 1/2 cents,

Nearby Cash  was $9.52, down 5 1/4 cents,

Jan 25 Soybeans  closed at $10.31 1/2, down 5 1/2 cents,

May 25 Soybeans  closed at $10.61 1/4, down 4 1/4 cents,