The soybean market closed the Wednesday session with mixed trade as front months were down 2 to 5 cents and new crop 2 to 4 cents higher. The cmdtyView Cash Bean price was down 1 ¾ cents to $9.87. Soymeal futures were up $1.90 to $2.80/ton, with Soy Oil futures down another 64 to 103 points.

Later on Tuesday, China and the US agreed to a meeting in Geneva, Switzerland on Saturday. The meeting will take place between Treasury Secretary Bessent and USTR Greer and Chinese Vice Premier He Lifeng. The talks are expected to focus on reducing export controls and broader tariffs.

Analysts are looking for a total of 200,000 to 500,000 MT of soybean export bookings in the week ending on May 1. New crop sales are estimated to total 0-150,000 MT. Meal sales are expected to come in between 200,000 to 400,000 MT, with bean oil between net reductions of 5,000 and sales of 20,000 MT.

Ahead of the Monday WASDE release, analysts surveyed by Reuters are looking for the World Ag Outlook Board to take the US soybean yield to 52.5 bpa. Production is seen as totaling 4.338 billion bushels.

Brazil’s trade ministry data showed a total of 15.271 MMT of soybeans exported during April. That was a 4.03% increase from last month and a 3.97% hike from the same period last year. ANEC estimates the May export total to total 12.6 MMT.

May 25 Soybeans  closed at $10.30 1/2, down 4 1/4 cents,

Nearby Cash  was $9.87, down 1 3/4 cents,

Jul 25 Soybeans  closed at $10.39 1/4, down 2 cents,

Nov 25 Soybeans  closed at $10.22, up 2 3/4 cents,

New Crop Cash  was $9.59 1/1, up 2 1/2 cents,