Soybeans End Choppy Trading Day with Modest Declines

Soybean Market Update

Soybean futures slipped by 1 to 2 cents in the front months on Thursday. The national average cash price for soybeans, as reported by cmdtyView, declined by 1 cent to $10.84 3/4. Soymeal futures saw losses between $1.20 and $2.20 in the nearby contracts, while soy oil futures advanced by 91 to 109 points. For February, the average closing price for November soybean futures has reached $11.08, which is 54 cents higher than the same period last year. Friday marks the final day for determining the spring soybean crop insurance price.

The Environmental Protection Agency (EPA) submitted its proposed 2026 biofuel requirements to the White House Office of Management and Budget for review late Wednesday. Additionally, reports suggest the EPA is considering reallocating half of the biofuel obligations previously exempted for small refineries to larger oil refineries.

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Early in the session, the market showed weakness following reports that the upcoming meeting between President Trump and China's President Xi might focus more on appearances than on substantial progress in trade negotiations.

The USDA released its weekly Export Sales report for the week ending February 19, showing total soybean sales of 407,086 metric tons. This figure is lower than the previous week but only 0.92% below the same week in 2025. Egypt was the leading buyer with 225,800 metric tons, followed by Germany at 127,000 metric tons, and China at 75,500 metric tons.

Sales of soybean meal reached 269,590 metric tons, falling within the expected range of 250,000 to 500,000 metric tons, with an additional 30,000 metric tons sold for the 2026/27 marketing year. Soybean oil sales totaled just 1,473 metric tons, which fits within the estimated range of net reductions of 10,000 to sales of 16,000 metric tons. There were also net reductions of 3,950 metric tons reported for 2026/27.

Closing Prices

• March 2026 Soybeans settled at $11.47 3/4, down 1/2 cent
• Nearby Cash closed at $10.84 3/4, down 1 cent
• May 2026 Soybeans ended at $11.63 1/2, down 1 1/2 cents
• July 2026 Soybeans finished at $11.76 1/4, down 1 1/4 cents