Soybeans were mixed on Friday with contracts anywhere from 2 ½ cents higher to fractionally lower. November was down 34 ¼ cents this week, with the monthly loss at 70 ¾ cents. The cmdtyView national average Cash Bean price was up 1/2 cents at $11.63 1/2. Soymeal futures were 70 cent to $4.70 lower, as December was down another $21.50. Soy Oil futures were 26 to 52 points higher on Friday but down 93 cents on the week.
The average close for November soybean futures in October was $12.63 as the harvest price option for crop insurance was set.
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USDA reported a private export sale of 132,000 MT of 2026/27 soybeans to unknown destinations, with another 165,150 MT sold to unknown during the reporting period.
Weekly CFTC data showed speculators in soybean futures and options net long 185,400 contracts as of October 27th. That was a reduction of 21,536 contracts over the course of that week. In soybean meal futures and options, managed money was liquidating longs, dropping their net long position by 34,834 contracts to 169,859 contracts as if Tuesday,
Weekly Export Sales data from Thursday has current soybean export commitments at 28.778 MMT, which is 80% above the same week last year. That is already 62% of the USDA export projection, well ahead of last years 39% pace and above the 51% average pace.
The Buenos Aires Grain Exchange estimates the Argentina soybean crop at 23.3% planted, near the average for early in the period.
Nov 26 Soybeans closed at $12.22 1/4, up 2 1/2 cents,
Nearby Cash was $11.63 1/4, up 1/4 cent,
Jan 27 Soybeans closed at $12.34 1/4, down 1/2 cent,
Mar 27 Soybeans closed at $12.43 3/4, up 1/4 cent,
Nov 27 Soybeans closed at $12.09, down 1/2 cent,
New Crop Cash was $11.42 1/4, up 1/2 cent,
On the date of publication, Austin Schroeder did not directly have a position 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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