Soybeans are showing slightly higher trade so far as we kickoff the Monday session. Futures posted weakness on Friday, pushing lower into the close, as contracts were down 5 to 6 cents at the final bell. November fell 27 ½ cents last week. Preliminary open interest rose 9,005 contracts on Friday, suggesting net new selling. There were another 76 deliveries reported. The cmdtyView national average Cash Bean price was down 6 cents at $9.49 1/2. Soymeal futures were 40 cents $1.10 higher on the day, as October was down $2.90 last week. There were 88 deliveries issued on Friday night. Soy Oil futures 67 to 70 points lower on Friday, with October slipping 89 points since last Friday. The CME reported another 6 deliveries on Friday night.
Export Sales data showed net reductions of 23,775 MT in the week of 8/28, an improvement from the 189,184 MT in net reductions last week. New crop sales were 818,474 MT, which was a 4-week low, as China has yet to purchase a single bean. The largest buyer of 2025/26 soybeans in that week was unknown destinations, at 269,000 MT, with 116,100 MT sold to Mexico, and Japan purchasing 71,100 MT.
Soybean meal sales were tallied at 4,317 MT in 2024/25 net reductions, with sales of 145,700 MT for 2025/26, on the low side of the expected 100,000 MT and 450,000 MT. Bean oil sales were pegged at 144 MT in net reductions for the current MY and sales of 1,821 MT for 2025/26, which was on the near the low end of 0 to 22,000 MT estimates.
Weekly CFTC data indicated managed money trimming back 8,854 contracts from their net long position in soybean futures and options to 11,964 contracts as of 9/2.
China imported a total of 12.28 MMT of soybeans during August, up from the 11.67 MMT reported for July and a 1.15% increase from last year. Much of that was likely Brazilian origin.
As planting kicks off in Brazil, AgRural estimates the 2025/26soybean crop at 0.02% planted as of Thursday.
Sep 25 Soybeans closed at $10.06 1/2, down 5 1/2 cents, currently unch
Nearby Cash was $9.49 1/2, down 6 cents,
Nov 25 Soybeans closed at $10.27, down 6 cents, currently up 1 3/4 cents
Jan 26 Soybeans closed at $10.45 1/2, down 6 cents, currently up 1 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.
