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US Biofuels Update: Soybean Futures, Boosted by Strong Weekly Export Sales, Push up Soybean Oil Prices

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Biofuels feedstock futures closed sharply higher on Thursday, boosted by strong weekly soybean export sales.

The Chicago Board of Trade July soybean futures contract closed 1.69% higher at $11.27 1/2 per bushel, while the CBOT July soybean oil futures contract settled 1.94% higher at 70.81 cents per pound.

The Nymex July ethanol futures contract settled 0.55% higher on Wednesday at $1.83 per gallon.

Rhett Montgomery, a DTN analyst, said that corn and soybean markets turned higher on Thursday, enjoying a relief bounce inspired by technical-based buying after an early-week pullback towards long-term support, while good weekly export sales data from the US Department of Agriculture also fueled upward momentum.

"The soybean market showed impressive reversal price action on Thursday, stemming from a very strong weekly export sales rundown from USDA, with firm product markets helping as well. Soybean products were also firm on Thursday, with steady moves higher for both meal and oil lifting processing premiums with crush in the US, of course, expected to be a record in 2025-26 and again in 2026-27," Montgomery said in a daily note.

For the week ending June 18, 2026, USDA reported an increase of 16.7 million bushels or 455,400 mt of soybean export sales in 2025-26 and an increase of 33.1 mb or 902,200 mt for 2026-27.

Last week's export shipments of 8 mb were below the 12.9 mb needed each week to achieve USDA's export estimate of 1.510 bb in 2025-26. Soybean export commitments now total 1.508 bb for 2025-26, down 17% from a year ago.

That is ahead of USDA's estimated pace, even as its estimate of U.S. ending soybean stocks is 16% larger than the previous five-year average.

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