The USDA will update weekly Export Sales data on Thursday. Estimates for 2025/26 soybean sales range from 150,000 to 400,000 metric tons for the week ending June 4. New-crop soybean sales are expected between 100,000 and 350,000 metric tons.

Soybean meal sales are projected between 150,000 and 600,000 metric tons combined for the current and next marketing years. Soybean oil sales are estimated to range from net reductions of 2,000 metric tons to net sales of 15,000 metric tons.

The WASDE report is also expected to show little change in soybean fundamentals. Bloomberg’s survey indicates old-crop soybean ending stocks at 339 million bushels, compared with 340 million bushels in May. New-crop ending stocks are projected at 310 million bushels, unchanged from last month. Globally, Brazil’s soybean production is expected to remain steady at around 180.3 million metric tons, while Argentina’s production is forecast to increase by 0.5 million metric tons to 48.5 million metric tons. Updated Brazilian estimates from CONAB will also be released.