Soybeans are showing 3 to 5 ½ cent lower trade so far on Tuesday morning. Crude oil is a pressure factor, down $3.85 from Friday, as the US and Iran were inching closer to a deal over the weekend, though there is nothing set as of this morning. Futures held higher into the Friday close, as contracts were steady to 2 ¼ cents in the green. July was up 19 ½ cents on the week, with November 17 cents higher. Open interest was up 10,125 contracts on Friday, suggesting modest new buying. The cmdtyView national average Cash Bean price was up 2 cents at $11.33 1/2. Soymeal futures were firm to $3.50 higher on the day, with July slipping $2.40 on the week. Soy Oil futures were 8 to 37 points in the green, as July was up 10 points since the previous Friday.
USDA reported a private export sale of 252,000 MT of soybean meal to unknown destinations on Friday, with 117,000 MT for 2025/26 and 135,000 MT for 2026/27.
Commitment of Traders data from Friday showed spec funds trimming back their net long position by 7,011 contracts in soybean futures and options as of Tuesday, taking it to 207,804 contracts.
The weekly Export Sales report shows soybean export commitments now at 39.371 MMT, an 18% decline from last year. That is also 95% of the USDA forecast, down from the 98% average pace.
Jul 26 Soybeans closed at $11.96 1/2, up 2 1/4 cents, currently down 5 1/2 cents
Nearby Cash was $11.33 1/2, up 2 cents,
Aug 26 Soybeans closed at $11.95, up 1 1/2 cents, currently down 4 1/2 cents
Nov 26 Soybeans closed at $11.87 3/4, up 1 cent, currently down 3 3/4 cents
New Crop Cash was $11.25 1/4, up 1 cent,
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.
