Soybeans are showing 5 to 7 cent gains early on Monday. Futures closed the Friday session with contracts up fractionally in some deferred to as much as 16 ¾ cents. September closed the week with a 55 ½ cent rally, as November was up 43 cents. Open interest rose 9,921 contracts on Friday, The cmdtyView national average Cash Bean price was up 13 3/4 cents at $11.45 3/4. Soymeal futures were $2.80 to $3.80 higher across most contracts, as September rallied $14.90 last week. Soy Oil futures were 11 to 54 points higher, as September was 369 points higher on the week. There were 45 deliveries issued against July soybean meal on Friday night, with 304 for July bean oil.
Updated forecasts from the NOAA 7-day QPF shows little to no precipitation for an area ranging from the Dakotas, south through KS, as well as parts of MN, IA, IL, and MO, with trace totals in OH and IN.
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WASDE data from today showed a 10 mbu drop to 2025/26 US soybean stocks to 330 mbu on a 10 mbu increase to exports. New crop stocks were steady at 310 mbu, as there was a 30 mbu increase in exports to offset the 40 mbu increase in production due to more acres.
On the world side, South America production for 2025/26 was left alone. New crop world carryout was down 0.71 MMT to 124.17 MMT, as there was a 0.19 MMT smaller carryover from 2025/26, with Brazilian exports raised by 0.5 MMT.
Commitment of Traders data from Friday afternoon showed spec traders adding back 37,479 contracts to their net long position in soybean futures and options in the week ending on July 7. That came via a mix of new long interest and short covering, with the net long at 68,679 contracts.
Jul 26 Soybeans closed at $11.96 1/2, up 16 3/4 cents, currently up 7 1/4 cents
Nearby Cash was $11.45 3/4, up 13 3/4 cents,
Aug 26 Soybeans closed at $11.91 3/4, up 14 cents, currently up 6 1/4 cents
Nov 26 Soybeans closed at $11.90 3/4, up 9 1/4 cents, currently up 5 1/2 cents
New Crop Cash was $11.25 1/1, up 9 1/2 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.