Soybeans Selling the Fact Following RVO Announcement

Soybeans are trading with contracts 9 to 10 cents lower in the front months and deferreds down 3 to 5 cents, The cmdtyView national average Cash Bean price is down 9 cents at $10.91 1/4. Soymeal futures are showing $4 to $5 losses at midday, with Soy Oil futures 21 to 30 points lower on some buy the rumor, sell the fact action. 

As expected, EPA released their finalized RVOs for 2026 this morning, with bio-mass based diesel set at 8.86 billion RINS (not gallons) with the 2027 total at 8.95 billion RINS. That exceeded the 7.12 and 7.5 billion RIN (respectively) proposed RVOs. The small refinery exemption reallocation takes that to 9.07 billion RINS for 2026 and 9.2 billion RINS for 2027. They also announced that in 2028, foreign fuel and feedstocks will only receive 50% of the RIN value, vs. this year as previously proposed.
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USDA reported a private export sale of 105,000 MT of soybeans to unknown destinations this morning.

Export Sales data pegged total soybean export commitments at 37.256 MMT, a drop of 18% from the same period last year. That is now 87% of the USDA export projection and lags the 95% average sale pace. 

NASS March Intentions data will be out on Tuesday next week, with traders looking for 85.55 million acres of soybeans planted this spring. That would be up 4.33 million acres if realized. 

May 26 Soybeans  are at $11.64 3/4, down 9 cents,

Nearby Cash  is at $10.91 1/4, down 9 cents,

Jul 26 Soybeans  are at $11.80 1/4, down 9 1/4 cents,

Nov 26 Soybeans  are at $11.49 1/2, down 3 1/4 cents,

New Crop Cash  is at $10.88 1/2, down 3 1/4 cents,

On the date of publication,

Austin Schroeder

did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.

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