Soybeans are posting 17 to 19 cent gains early on Monday. Futures rebounded from the Thursday losses to close Friday with a late push higher, up 4 ½ to 9 ½ cents. August was 12 ¾ cents in the green on the week, with November 12 ¼ cents higher. Open interest was up 7,851 contracts on Friday. The cmdtyView national average Cash Bean price was up 10 3/4 cents at $11.66 3/4. Soymeal futures were $2.70 to $3.90 lower at the close, with August slipping 20 cents last week. Soy Oil futures were 115 to 238 points higher, as August rallied 435 points last week.
NOAA’s 7-day QPF updated forecast shows 1- 2 inches expected in much of NE, MO, and parts of Southern/Eastern IA and western IL. Precip is limited in much of the rest of the Corn Belt.
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USDA reported 3 sets of private export sales for new crop on Friday morning, with 340,000 MT to China, 256,634 MT to Mexico, and 110,000 MT to unknown destinations.
Export Sales data from Thursday has taken the old crop soybean sales total (including shipments and unshipped sales) to 41.324 MMT. That matches the USDA export projection, vs the 101% average of the projection in the last 3 years. Shipments are 38.18 MMT, which are 92% of the USDA projecting and below the 93% pace from the last 2 years. New crop business came is now at 4.598 MMT.
Commitment of Traders data from Friday afternoon showed spec traders adding just 4,009 contracts to their net long position in soybean futures and options in the week ending on July 14. The net long was 72,688 contracts by Tuesday.
Safras & Mercado estimates the Brazilian soybean crop at 180.1 MMT for 2026/27, a 1.8 MMT jump from last year if realized.
Aug 26 Soybeans closed at $12.04 1/2, up 9 1/2 cents, currently up 18 1/4 cents
Nearby Cash was $11.66 3/4, up 10 3/4 cents,
Sep 26 Soybeans closed at $11.93 1/2, up 8 1/4 cents, currently up 17 3/4 cents
Nov 26 Soybeans closed at $12.03, up 8 cents, currently up 18 1/2 cents
New Crop Cash was $11.43, up 9 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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