Daily Soybean Report

Futures. November rose 7-6 to 1253-0, up 0.6%, led by the front end with November 2027 off 0-4, recovering Wednesday's drop to 1245-2. Oil led the complex, December up 0.77 at 66.74, a gain of 1.2% with Brent at a five-month high. Meal went the other way on the spread, December down 1.0 at 347.3 with the deferreds flat. Corn eased 2-6 to 460-4.

Export Sales. Net sales of 2.841 MMT for the week to October 15, the high end of the 1.8-3.0 MMT range, more than four times the prior week and 171% above last year. The daily system had flagged 1.877 MMT of it, so nearly a million tons was private business that never hit the wire. Meal sales of 242,168 MT fell short of the 250,000-650,000 MT range; oil was 916 MT. USDA added another 202,000 MT to China on Thursday morning.

South American Supply. ABIOVE puts Brazil's 2027 crush at 66 MMT, up 2.4 MMT, with exports at 113 MMT, down 0.9 MMT.

Vegoil. Palm oil is sitting about $100 a ton under soyoil and $300 under sunflower, with Indian buyers taking 20,000-30,000 MT a day into Diwali and Malaysia sitting on record stocks. Malaysia is considering waiving its crude palm duty and Indonesia's levy may fall in November.

Hormuz/Energy. Brent hit $112, a five-month high, after the IRGC said it set four vessels ablaze in the northern Gulf and three more struck mines west of Hormuz, Houthis hit Dammam airport and the Shaybah oilfield, and Aramco sent its Dhahran headquarters staff home to work remotely. The US has ordered diplomats and families out of Saudi Arabia.