Soybean Bulls Start the New Year with a Spark

Austin Schroeder Barchart Thu Jan 2, 5:20PM CST
Young soybean crop with female farmer by fotokostic via iStock

The soybean market kicked off 2025 with gains across most contracts, as futures were steady to 3 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 1 1/4 cents at $9.56. Soymeal futures were up $3 to $5.20/ton across the board. Soy Oil futures were down 6 to 23 points on the session.

Rains are expected to make their way into eastern and central parts of Argentina in the 8-14 day period, though the northeastern part of the country as well as Southern Brazil remains dry. StoneX raised their 2024/25 Brazilian soybean crop by 5.2 MMT from their previous estimate to 171.4 MMT.

The monthly Fats & Oils report showed a total of 210 mbu of soybeans crushed in November, well above the 207.2 mbu estimates. That was down 2.66% from the October all-time record, but up 4.97% from November 2023 and a monthly record. Soy oil stocks were tallied at 1.612 billion lbs at the end of November, exceeding estimates.

The weekly Export Sales report has been pushed back to Friday morning, with traders surveyed by Reuters estimating a total of 0.5-1.2 MMT in 2024/25 soybean bookings for the week that ended on December 26. Another 2025/26 sales are estimated at 0-100,000 MT. Meal sales are pegged in a range of 150,000 to 400,000 MT, with bean oil bookings estimated at 5,000 to 40,000 MT.

Jan 25 Soybeans  closed at $9.99 1/2, up 1 1/4 cents,

Nearby Cash  was $9.56, up 1 1/4 cents,

Mar 25 Soybeans  closed at $10.12, up 1 1/2 cents,

Jul 25 Soybeans  closed at $10.37 3/4, up 3 cents,


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.