Soybeans are trading with contracts down 11 to 12 cents on Friday morning. Futures were in rally mode on Thursday, with contracts 13 to 22 cents higher across most contracts. Open interest was up 6,206 contracts on Thursday, suggesting new buying. The cmdtyView national average Cash Bean price was up 22 1/2 cents at $12.74 ½. Soymeal futures saw gains of $2.30 to $5.50, as Soy Oil rallied 102 to 135 points. There was just 1 delivery issued against September soybeans overnight, with 3 for soybean meal and 134 deliveries against September bean oil. They expire on Monday.
Weekly Export Sales data will be out this morning, with analysts surveyed by Reuters looking for no sales to net cancellations of 500,000 MT for 2025/26 soybeans. New crop sales are seen in a range of 1 to 2.6 MMT in the week of September 3. Soybean meal sales are expected to be in a range of 150,000 to 950,000 MT, with 0 to 12,000 MT
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USDA will update their monthly WASDE and Crop Production data todau, with traders surveyed by Bloomberg looking for yield to be trimmed by 0.3 bpa to 52.4 bpa on average. Production is estimated to be down 27 mbu to 4.492 bbu. Old crop stocks are seen dropping 5 mbu to 320 mbu, as new crop US carryout is expected to be down 29 mbu to 291 mbu.
Sep 26 Soybeans closed at $13.18 1/4, up 23 cents, currently unch
Nearby Cash was $12.74 1/2, up 22 1/2 cents,
Nov 26 Soybeans closed at $13.32 1/4, up 22 3/4 cents, currently down 11 3/4 cents
Jan 27 Soybeans closed at $13.47 1/4, up 22 cents, currently down 11 3/4 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.