Soybean futures concluded Friday’s trading session with notable gains across various contracts, preparing markets for the President’s Day holiday. Contracts advanced between 7 and 10 cents, signaling robust positive momentum. The national front month Cash Bean price, reported by cmdtyView, climbed 9 ¼ cents to settle at $9.78 3/4, reflecting the broader upward trend.
Specific contract movements underscored these widespread gains. March 2025 soybean futures rose 9 1/4 cents, closing at $10.39 1/4. Nearby Cash prices mirrored this rise, also up 9 1/4 cents to $9.78 3/4. May 2025 soybean futures increased 8 1/2 cents, reaching $10.55 1/2. New crop contracts for November 2025 participated, rising 7 1/2 cents to $10.52 3/4, with New Crop Cash prices experiencing a similar 7 1/2 cent gain, settling at $9.89 1/2. This comprehensive upward movement indicates broad positive sentiment.
While soybeans enjoyed a strong session, related markets presented a mixed picture. Soymeal futures posted a notable gain of $4.90 per ton, indicating sustained demand for the protein-rich byproduct. Conversely, Soy Oil futures experienced a slight downturn, dropping 8 points during the session. This divergence suggests nuanced dynamics within the broader soybean complex.
Upcoming Market Events and Key Data
Markets will close Monday for President’s Day, with normal trading resuming Tuesday. This holiday-shortened week will feature the release of crucial NOPA (National Oilseed Processors Association) data, closely watched for insights into domestic crushing activity and inventory levels.
Analysts are particularly keen on the NOPA report’s January crush figures. Expectations are set for 204.54 million metric tons (MMT) in January crush. If realized, this would represent a significant 10.1% increase compared to the January 2024 total, highlighting potential acceleration in domestic processing demand. Additionally, soy oil stocks are projected to stand at 1.289 billion pounds, offering a snapshot of current supply levels.
Consistent Export Sales Underpin Market
Further underpinning positive market sentiment was the latest weekly Export Sales report. Data revealed total bean sales, encompassing both shipped and unshipped volumes, reached 43.256 MMT. This robust figure accounts for 87% of the U.S. Department of Agriculture’s (USDA) export projection. Notably, this pace aligns precisely with historical norms, suggesting consistent international demand for U.S. soybeans and providing a fundamental pillar of support for prices.
The positive close to the week for soybeans, marked by widespread price gains and supported by consistent export figures, sets a constructive tone for the market. While soy oil futures experienced a minor dip, the overall complex demonstrated resilience, driven by solid underlying fundamentals and forward-looking expectations for robust processing demand, as indicated by upcoming NOPA data. The market will closely monitor these factors for continued direction.
