-- Biofuels feedstock futures closed lower on Thursday amid an extended selloff, as headlines suggested the US and Iran were nearing a peace agreement.
The Chicago Board of Trade July soybean futures contract closed 0.21% lower at $11.92 per bushel, while the CBOT July soybean oil futures contract settled 1.16% lower at 74.15 cents per pound.
On Wednesday, the June ethanol futures contract on the Nymex ended 2.96% lower at $1.97 per gallon.
The US announced on Thursday that "Project Freedom" will resume guiding commercial ships through the Strait of Hormuz with naval and air support.
Rhett Montgomery, DTN analyst, said the soybean market fell for a third straight day but also found support on an attempted move below the 50-day moving average of $11.89 for July futures.
"The soybean market will be watching for reports of any potential frost damage to emerged crops through the recent cold spell, with 13% emerged according to the USDA to begin the week. Otherwise, beyond next week's WASDE, President Trump's planned visit to China is likely the most consequential event on the market's near-term horizon," Montgomery said in a daily note.
For the week ending April 30, the US Department of Agriculture reported an increase of 5.2 million bushels or 141,900 metric tons of soybean export sales in 2025-26 and an increase of 0.2 mb or 5,500 mt for 2026-27.
Last week's export shipments of 19.5 mb were above the 17.5 mb needed each week to achieve USDA's export estimate of 1.540 billion bushels in 2025-26. Soybean export commitments now total 1.430 bb in 2025-26 and are down 18% from a year ago.