Soybean Mar '24 (ZSH24)
Soybean Futures Market News and Commentary
Soybeans posted 14 to 30 cent gains across most contracts on the Friday session. September was up 51 ¼ cents on the week, as November rallied 48 ½ cents. The cmdtyView national average Cash Bean price was up 20 1/2 cents at $12.53 3/4. Soymeal futures were $1 to $8.10 higher on the day, led by the front months, as September was up $20.50 on the week. Soy Oil was back up 167 to 259 points, with September 124 higher this week.
USDA reported a private export sale of 182,000 MT to China this morning for 2026/27, with 226,000 MT during the reporting period to unknown. Another 200,000 MT of soybean meal was sold to both Germany and the Netherlands at 100,000 MT each.
Commitment of Traders data from CFTC showed managed money adding another 46,592 contracts to their net long position in the week ending on August 25. That took their net long to 198,254 contracts.
Following reports that the EPA was looking to approve additional small refinery exemptions this week, Reuters r... Read more
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