Soybeans Retreating into Friday’s Midday

Core Insights - Soybean prices are experiencing a decline from intraday highs, with the national average cash bean price slightly increasing to $10.47 1/2 [1] - USDA's export sales data indicates soybean export commitments at 34.29 million metric tons (MMT), reflecting a 20% decrease compared to the same period last year [2] - Monthly WASDE data is expected to show no significant changes in US soybean stocks, estimated at 348 million bushels (mbu), down from 380 mbu in January [3] Price Movements - Soybean futures for March 26 are priced at $11.13 1/2, showing a slight increase of 1 1/4 cents, while nearby cash is at $10.47 1/2, up by 1/2 cent [3] - May 26 soybean futures are at $11.26 3/4, up by 3/4 cent, and July 26 futures remain unchanged at $11.37 1/4 [3] Stock Data - Actual soybean stocks are reported at 3.24 MMT, which is a decrease of 26.6% from the previous year [3] - Canadian canola stocks are projected at 15.62 MMT by December 31, marking an 18.1% increase from the same period last year [3]