Soybeans are trading higher on Thursday morning, with futures falling back into the red from the Wednesday close. Preliminary open interest showed new selling interest, with 12,421 contracts. The national average Cash Bean price was down 5 ¾ cents. Soymeal futures closed with losses, while Soy Oil futures were higher with deliveries issued against September soybeans.

Analysts are expecting between 0.4 and 1.6 MMT of 2025/26 soybean sales in the upcoming Export Sales release. Soybean meal sales are forecasted between 50,000 to 900,000 MT, with bean oil expected to fall between 0 and 16,000 MT.

The monthly Crop Production report will be released on Friday, with an expected yield drop to 53.3 bpa on average. Production estimates are at 4.271 bbu, a 21 mbu reduction if realized. Ending stocks for the 2024/25 MY are seen at 328 mbu, with new crop stocks at 288 mbu, just 2 mbu lower vs. August.

Argentina soybean production is estimated to total 47 MMT, down 2.5 MMT from last year due to lower acres. CONAB raised their 2024/25 soybean crop estimates by 1.92 MMT to 171.47 MMT. Sep 25 Soybeans closed at $10.05 1/2, down 6 cents, currently unch. Nearby Cash was $9.47 1/2, down 5 3/4 cents. Nov 25 Soybeans closed at $10.25 1/4, down 6 cents, currently up 5 3/4 cents. Jan 26 Soybeans closed at $10.44 3/4, down 5 3/4 cents, currently up 6 cents.

Read more at Yahoo Finance: Soybeans Popping Higher on Thursday