April 2, 2026 — Soybean futures contracts closed with slight losses on Wednesday, ending a mixed trading session. The market absorbed a major monthly report showing a record daily processing pace even as prices softened.
According to data from Barchart, May 2026 soybean futures settled at $11.68 1/2, down 2 1/2 cents. The July contract lost 1 1/2 cents to $11.84 1/2. The national average cash price for soybeans, however, moved higher, gaining 4 1/4 cents to $10.99 1/2.
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Crush Data Shows Diverging Trends
The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) released its monthly Fats and Oils report Wednesday afternoon. The data presented a complex picture for domestic soybean demand.
For February, the total soybean crush was 214.2 million bushels. That figure represents a significant 12.99% increase compared to February of last year. But it also marks a 6.04% decline from the January total. The daily crush rate for the month set a new record at 7.65 million bushels.
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Industry watchers note the strength in the cumulative figures. For the first half of the 2025/26 marketing year, the total crush reached 1.334 billion bushels. That is 102 million bushels, or 8.28%, higher than the same period last year. The USDA’s current projection is for a full-year increase of 130 million bushels.
This suggests domestic processing demand remains a solid foundation for the market.
Product Markets and External Pressure
Soy product futures traded unevenly. Soymeal futures posted gains between $1.50 and $2.40 per ton. Soy oil futures were a notable weak spot, falling 100 to 177 points.
External markets added pressure. Crude oil futures fell sharply, closing down $2.51 per barrel. The drop followed a social media post from former President Donald Trump suggesting Iran was seeking a ceasefire in ongoing regional conflicts. He was expected to give a televised address later that evening.
Analysts often watch crude oil because of its influence on vegetable oil markets, including soy oil used for biodiesel.
Market Awaits Key Data and Observes Holiday
Trading activity will be compressed this week. Markets are closed on Friday, April 3, in observance of Good Friday. That makes Thursday the final trading session of the week.
All eyes are now on the USDA’s weekly Export Sales report, scheduled for release Thursday morning. Pre-report estimates compiled by analysts anticipate old-crop soybean sales between 300,000 and 700,000 metric tons. New-crop sales are seen in a much smaller range of 0 to 50,000 metric tons.
Soymeal sales are estimated between 200,000 and 500,000 metric tons. Bean oil sales are projected at 0 to 12,000 metric tons.
What this means for investors is a market in a holding pattern. Strong domestic use is being weighed against uncertain export demand and broader economic signals. The upcoming sales data will provide a critical check on international appetite.
For more information on official USDA data, you can visit the National Agricultural Statistics Service website. Historical and current futures prices are available from CME Group, the exchange where soybean futures trade.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
