-- Biofuels feedstock futures closed mixed on Wednesday, as soybean futures dropped while soybean oil rose, signaling peace optimism amid the US-Iran negotiations.
The Chicago Board of Trade May soybean futures contract closed 0.28% lower at $11.63 per bushel, while the CBOT May soybean oil futures contract settled 2.56% higher at 69.33 cents per pound.
On Wednesday, the May ethanol futures contract on the Nymex ended 0.91% lower at $1.91 per gallon.
Rhett Montgomery, DTN analyst, said soybean futures have been trading in a 20-cent range over the past month as traders await further price clues.
"Soybean futures retreated on Thursday, despite a strong move higher for soybean oil, and optimism for a resumption of peace negotiations between the US and Iran," Montgomery stated in a daily note.
On Thursday, the US Department of Agriculture Weekly Export Sales Report showed that soybean export sales for the week ended Apr. 9 totaled 9.1 million bushels, a marketing-year low, as old-crop sales continue on their lower seasonal path.
Shipments, however, were seasonally strong at 30.1 mb. All totaled, commitments have reached 1.402 billion bushels for the current season and remain 18% lower than the same point in 2025.