Soybeans Edge Toward the Wednesday Finish

Soybean Market Update: Mixed Results by Wednesday's Close

Soybean futures were unable to maintain their early gains on Wednesday, ending the session with slight changes in both directions. The national average cash price for soybeans, as reported by cmdtyView, slipped by 4 cents to $10.64 1/2. Soymeal futures saw declines ranging from $1.90 to $4.50 in the front months, while soy oil futures posted gains of 107 to 132 points. The uptick in soy oil prices was attributed to news that the EPA is likely to submit the 2026 biofuel blending mandates to the White House for review this week.

USDA Outlook and Acreage Projections

As the USDA Ag Outlook Forum approaches on Thursday, market participants anticipate that the chief economist's office will forecast soybean plantings at 85 million acres. If realized, this would represent a 3.8 million acre increase from the previous year. Production is projected at 4.43 billion bushels, which is 168 million bushels higher than the estimated output for 2025.

Brazilian Soybean Export Outlook

According to ANEC, Brazil is expected to export 11.46 million metric tons of soybeans in February, a decrease of 0.25 million metric tons from last week's estimate. Despite the reduction, this figure remains 5 million metric tons higher than the same period last year.

Recent Soybean Futures and Cash Prices

• March 26 Soybeans settled at $11.33 1/2, down 1/2 cent
• Nearby Cash price was $10.68 1/1, down 1/2 cent
• May 26 Soybeans ended at $11.49, up 1/4 cent
• July 26 Soybeans closed at $11.61 1/2, down 1/4 cent