Soybeans Ease Lower into the Weekend

Soybeans rounded out the Friday session with contracts down 2 to 6 ¼ cents across the board, as May still held up for a 24 ½ cent gain. The cmdtyView national average Cash Bean price was down 2 cents at $11.50 1/4. Soymeal futures were down $1.60 to $2.50 higher on the day, as May was up $5.50 on the week. Soy Oil futures were mostly within 8 points of unchanged, as May was 86 points higher since last Friday. Crude oil closed up $3.57 on the day.

Weekly CFTC data via the Commitment of Traders report indicated another 23,205 contracts added to the managed money net long in soybean futures and options. That took the net position to 222,107 contracts. Specs in bean oil added another 33,329 contracts to their net long at 108,838 contracts.
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USDA Export Sales data has soybean export commitments at 36.49 MMT by 3/5, a 19% drop from the same period last year. That is now 85% of USDA’s estimate for 2025/26 and behind the 93% average sales pace. Shipments are 27.15 MMT, and now 63% of that USDA number and behind the 79% average pace.

US Treasury Secretary Bessent and Chinese counterparts meet this weekend in Paris to prep for the meeting between President Trump and President Xi later this month.

NOPA data will be out on Monday, with traders looking for the February crush total at 202.73 mbu. Soybean oil stocks are seen at 1.928 billion lbs.

Brazil’s soybean crop estimate was trimmed by just 0.13 MMT to 177.85 MMT according to the latest CONAB estimate. 

May 26 Soybeans  closed at $12.25 1/4, down 2 cents,

Nearby Cash  was $11.50 1/4, down 2 cents,

Jul 26 Soybeans  closed at $12.37 1/2, down 2 1/2 cents,

Aug 26 Soybeans  closed at $12.18 1/4, down 3 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.

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