USDA will release its Export Sales report on Thursday morning. For the week ending February 5, old crop soybean sales are expected to range between 0.3 and 1.1 MMT. Sales for the 2026/27 marketing year are projected at 0 to 100,000 MT. Soybean meal sales are estimated between 200,000 and 450,000 MT, while soybean oil sales are expected to range from net reductions of 10,000 MT to net sales of 16,000 MT.

The Rosario Grains Exchange raised its estimate of Argentina’s soybean crop to 48 MMT, up 1 MMT from its previous projection. Brazil’s CONAB is expected to release updated production data on Thursday morning.