Soybeans saw gains of 3 1/4 to 6 cents across the board on Thursday to close the Halloween session.  CmdtyView’s national front month Cash Bean price is up 4 1/4 cents at $9.29 1/4. Soymeal futures were down a dime to $2.10/ton as Dec closed below the $300 level. Soy Oil futures were up another 91 to 133 points on the day.

The average close for November soybean futures during October was $10.03, indicating the fall insurance price. That is $1.52 below the February base insurance price.

USDA reported private export sales of 150,000 MT of soybean meal to unknown destinations for 2024/25 this morning.

The weekly Export Sales report was released this morning, tallying 2.273 MMT of soybeans sold in the week of 10/24. That was in the middle of trade estimates of 1.6 to 2.8 MMT, but a marketing year high total for 2024/25 sales. China was once again the top buyer of 715,000 MT, with 446,900 MT sold to unknown destinations and 299.300 MT to Mexico.

Soybean meal sales came in on the lower side of the 100,000 to 400,000 MT estimates at 208,366 MT, but an increase from the week prior. Bean oil bookings totaled 10,414 MT in the week of 10/24, on the lower end of estimates and well below last week. 

Monthly EIA data pegs a total of 1.217 billion lbs of bean oil as used in biofuel production during August. That was the third largest total for a month on record and up 1.66% from the same month last year. September crush data will be released on Friday afternoon by USDA, with analysts surveyed ahead of the report expecting to see 187.4 mbu of soybeans used during the month. Soy oil stocks are estimated at 15.39 billion lbs.

Nov 24 Soybeans  closed at $9.82 1/2, up 6 cents,

Nearby Cash  was $9.29 1/4, up 5 1/4 cents,

Jan 25 Soybeans  closed at $9.94 1/2, up 3 1/4 cents,

May 25 Soybeans  closed at $10.26, up 4 3/4 cents,