Soybeans are gaining 5 to 6 cents ahead of the USDA report. Futures saw a slight dip from midday highs on Friday, but March ended the week up 16 3/4 cents. Open interest increased by 10,054 contracts, with the national average cash bean price at $9.90 3/4. Soymeal futures closed with January down 40 cents and March up $7.70 last week.

A private export sale of 198,000 MT of soybeans was made to unknown destinations, with China purchasing 10 cargoes of US beans for April – May shipment. Crop Production data is expected to show a final soybean yield estimate of 52.7 bpa and production at 4.23 bbu. WASDE data will likely report 2025/26 soybean ending stocks at 295 mbu.

Quarterly Grain Stocks data is projected to show 3.25 bbu of soybean stocks on December 1. Commitment of Traders data revealed spec traders cutting back 26,845 contracts from their soybean net long, now at an 11-week low of 57,717 contracts of futures and options. AgRural estimates the Brazilian soybean crop at 0.6% harvested.

On Jan 26, Soybeans closed at $10.48 1/2, up 1 1/2 cents. Nearby Cash was $9.90 3/4, up 1 1/2 cents. Mar 26 Soybeans closed at $10.62 1/2, up 1 1/4 cents. May 26 Soybeans closed at $10.74 1/2, up 1 1/4 cents.

Read more at Yahoo Finance: Soybeans Posting Pre-USDA Gains on Monday Morning