Published: 3 hours ago
SOYBEAN futures at the Chicago Board of Trade were lower on Thursday, but soyoil surged on war concerns and on yesterday’s crush report.
Talks between the United States and Iran could resume this weekend, a top Pakistani mediator said. Iran is reportedly willing to extend the current ceasefire past its April 22 expiry. The U.S. said it would likely resume its attacks should a deal not be reached. Reports also said that the U.S. could be preparing for military action in Cuba.
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The U.S. Department of Agriculture reported export sales for the week ended April 9 included 247,900 tonnes of 2025-26 soybeans, a marketing-year low, and near the bottom end of pre-report trade estimates. Soymeal export sales came to 254,200 tonnes of old crop, which were slightly below market predictions. Those for soyoil were 1,100 tonnes and towards the low end of guesses.
Consultancy Abiove maintained its call on Brazil’s 2025-26 soybean harvest at 177.85 million tonnes and raised the country’s soybean exports by 2.1 million tonnes at 113.6 million.
The USDA attaché in Jakarta projected Indonesian palm oil production for 2026-27 at 48 million tonnes, up from 46.7 million the previous year. Indonesia is the world’s largest palm oil producer.
Paraguay’s soybean output for 2026-27 is to fall to 11.1 million tonnes, down one million tonnes from 2025-26, according to the USDA attaché in Buenos Aires. Paraguay is South America’s third largest soybean grower.
CORN futures slipped on Thursday, correcting from yesterday’s gains.
Rain is forecasted for the U.S. Eastern Corn Belt, which might create a minor delay to spring planting.
U.S. corn export sales were compromised of 1.4 million tonnes of old crop, which were toward the high end of trade forecasts, along with 56,500 tonnes of new crop.
The APEC Climate Center said there are 99 per cent chances for an El Nino in the May-July as well as the August-October time periods.
WHEAT futures continued stronger Thursday, on dryness concern across much of the U.S. Southern Plains.
Wheat export sales of 100,300 tonnes of old crop were short of trade expectations, but those for new crop came to 131,000 tonnes.
Algeria bought more than 400,000 tonnes of durum and Taiwan issued a tender for almost 106,000 tonnes of U.S. wheat.
The German Farmers Association reduced its estimate of the country’s 2026-27 wheat crop by 3.3 per cent, which would bring it to 22.38 million tonnes.
