Soybeans are down 1 to 2 cents to start the Thursday session. Futures were in rally mode on Wednesday, with contracts closing 10 to 11 cents higher in the front months. Open interest was up 4,067 contracts. The cmdtyView national average Cash Bean price was 11 1/2 cents higher at $9.94 3/4. Soymeal futures were $3.70 to $6.80 higher, with Soy Oil futures 8 to 18 points lower on the day. There were 142 deliveries issued against January soybeans overnight, with 70 issued for bean oil.

USDA is officially back to a normal Export Sales release schedule, as analysts are expecting to see between 0.75-1.3 MMT of 2025/26 soybeans sold for export in the week of 1/1. Sales for 2026/27 are seen in a 0-300,000 MT range. Soybean meal bookings are estimated to total 100,000-350,000 MT, with 0-30,000 MT seen for soybean oil.

Crop Production data will be released on Monday, with the annual report expected to show the final 2025 soybean yield estimate at 52.7 bpa. Production is pegged at 4.23 bbu according to a Bloomberg survey of analysts.

Jan 26 Soybeans  closed at $10.52 3/4, up 10 3/4 cents, currently down 1 3/4 cents

Nearby Cash  was $9.94 3/4, up 11 1/2 cents,

Mar 26 Soybeans  closed at $10.67, up 10 3/4 cents, currently down 1 1/4 cents

May 26 Soybeans  closed at $10.78 3/4, up 10 3/4 cents, currently down 1 cent

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