Soybean bulls found some more spark after midday to extend the strength into the close. Contracts rallied 16 to 22 ¾ cents on the day. CmdtyView’s national front month Cash Bean price was up 23 1/2 cents at $9.71. Soymeal futures shrugged off weakness settle with gains of 10 cents to $1.60/ton on the session. Soy Oil futures were up 184 to 204 points on the day.

Thursday morning’s Export Sales report showed 2.04 MMT in soybean bookings during the week of 10/31, on the high end of the 1.2 to 2.2 MMT range of estimates. That was a 3-week low but 88.7% above the same week last year. The largest buyer was China, with purchases of 1.223 MMT, as unknown destinations was next up at 152,100 MT.

Meal sales were tallied at 398,608 MT in the week of 10/31, which was on the higher end of the 150,000 MT to 560,000 MT estimates. Bean oil sales totaled a massive 114,311 MT in that week, which exceeded the 0 to 60,000 MT estimates and was the largest week of sales since November 2012.

The annual baseline projection from the USDA indicates a 2025/26 soybean planted acreage figure initially projected at 85 million acres (vs. 87.1 mac this year).

Soybean exports out of Brazil in October totaled 4.71 MMT, which is below the 5.6 MMT in the same month last year. Chinese import data was released, showing soybean imports during October at 8.09 MMT, which was a 4-year high in October imports. That took the calendar year imports to 89.94 MMT, a 11.2% increase yr/yr.

Nov 24 Soybeans  closed at $10.15 1/2, up 21 cents,

Nearby Cash  was $9.71, up 23 1/2 cents,

Jan 25 Soybeans  closed at $10.26 1/4, up 22 1/2 cents,

May 25 Soybeans  closed at $10.50 3/4, up 21 1/2 cents,