Soybeans were mostly 1 to 3 cents lower, with August down 11 ¾ cents on the week. The cmdtyView national average Cash Bean rice was up a penny at $11.33 ¾. Soymeal futures were down $2.60, with August down $6 on the week. Bean oil was up 40 to 50 points, with bean oil up 98 cents on the week.
A private export sale of 238,000 MT of soybeans was reported to China this morning for 2026/27. Wire reports suggested Chinese buyers purchased 10 cargoes of US soybeans on Thursday.
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Commitment of Traders data from Friday afternoon showed spec traders cutting back 29,535 contracts from their net long position in soybean futures and options in the week ending on August 4. The net long was 125,466 contracts by Tuesday.
A Reuters survey of traders shows expectations for NASS to peg US soybean yield at 52.9 bpa next Wednesday. Harvested acres are seen 163,000 acres higher than in the June report at 84.564 million acres, with production seen at 4.472 bbu.
USDA released their weekly Export Sales report on Thursday with the total accumulated sales (shipped and unshipped) at 41.715 MMT, down 19 from last year. That is still 101% of the USDA export forecast and lags the 103% pace from a year ago. New crop sales are at 8.373 MMT, not including the daily announcements from this week, which is a 4 year high and 133.9% above the same week last year.
Soybean exports out of Brazil in July totaled 13.4 MMT according to trade ministry data, which was a 9.33% increase from last year but down 7.58% from a year ago. August exports are expected to total 9.74 MMT according to ANEC, which would be 1.63 MMT from the same period last year.
China’s soybean imports totaled 11.48 MMT in July, a 1.6% decrease from the same month last year. Sinograin, a Chinese stockpiler, will auction off 516,000 MT of imported soybeans on August 12.
Aug 26 Soybeans closed at $11.56 1/2, down 3/4 cent,
Nearby Cash was $11.33 3/4, up 1 cents,
Sep 26 Soybeans closed at $11.59, down 1 cent,
Nov 26 Soybeans closed at $11.76 1/4, down 1 1/2 cents,
New Crop Cash was $11.17 1/1, down 1 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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